STILL K.A.P.O
Crypto Investor
Zcash should bounce back from its exploit-driven selloff, because exploits happen all the time in altcoin markets and this one only cut the price about 30%. Everyone will forget about it within 48 hours, on the first green candle. x.comÂ
Zcash will rip now that the Winklevoss twins have filed for a spot Zcash ETF under the ticker WINK; the same twins filed the first bitcoin ETF in 2013, when bitcoin was around $100. Zcash is holding near $1,300 while everything else bleeds. x.comÂ
ZEC gains a continuous create-redeem mechanism for the first time as Grayscale's Zcash trust converts to a spot ETF on NYSE. ZEC is back in the zone that capped previous cycles: $22 to $900 in 2017, $18 to $372 in 2021, and $16 to $850 now. Holding $900 keeps the stance long and aggressive; losing it brings $590-600 into view. Whether the broader market retraces in September is the bigger question, but the long-term position is comfortable either way. x.comÂ
Low liquidity could cause sharp downside wicks in altcoins over the coming days. Uniswap at $3-6 and Zcash near $800 are levels of interest for bids. Trader_XO sees Zcash near $800, a call that holds here too; the level is expected before year-end. x.com x.com x.comÂ
Zcash has its own buyers, so it keeps pushing its own bull run regardless of the CLARITY Act or the Fed. People who want privacy don't wait for Powell, more surveillance on exchanges pushes them toward privacy, and privacy wins long term. A run toward $1,500 would be a point to take a little profit. x.com x.com x.com x.comÂ
Zcash's leverage reset to open-interest range lows near 1.1 million ZEC could support a quick move to new highs if momentum returns. Holding its 50-day moving average is a positive first signal, but a sustained reclaim of the blue trendline near $1,330 is the second signal needed for that strong setup. x.comÂ
Zcash is showing weakness, and its super-illiquid spot book means profit-taking by spot holders can drive a sharply convex move to the downside. Broader risk appetite also appears to be weakening. x.comÂ
Zcash is the primary momentum trade as its activity expands through NEAR Intents: CoinDesk reports daily Zcash volume routed through Intents increased sixfold. That routing growth is the fundamental receipt, and the setup holds while Zcash activity keeps expanding through Intents. x.comÂ
Holders are rotating from bitcoin into Zcash, and the shift is still early. Per @jeremiahrogers, bitcoin holders who swapped into ZEC through NEAR intents now hold 468,606 ZEC, 2.92% of the network, worth $736M, versus $200.4M had they stayed in bitcoin. x.comÂ
Zcash's price is running ahead of its usage, so this rally is not one to buy yet. ZEC is becoming the privacy coin Wall Street can buy, as Grayscale works to turn its trust holding 2.3% of supply into an NYSE-listed ETF, and Flexa and CrossPay add spending options. But after a 68% weekly jump to about $14B, nearly twice Monero, the ETF is not live, the 200K ZEC contribution has not happened and fees were about $2K in a day. A live ETF, real inflows and a held pullback would change the view. … Show more
Bitcoin, gold and Zcash should keep moving up because Bessent has telegraphed financial repression and will keep upping the ante. He said "I am the house now," so selling bitcoin is a bet that he simply gives up. With a cycle bottom in, early dips are some of the best opportunities looking 18 months ahead, and panic selling the first shakeout during the disbelief phase is the worst move. x.comÂ