Key Insights:
- Cypherpunk proposes faster block times and other recommendations for the upcoming Zcash NU7 upgrade.
- ZEC price falls below $800 as profit-taking gains traction following last week’s aggressive rally.
- Grayscale’s head of trading hypes the ZEC ETF and explains why it could be a great alternative to Bitcoin.
Cypherpunk Technologies is gunning for more involvement in the Zcash privacy coin. The privacy-focused company has reportedly published its recommendations for the upcoming Zcash network upgrade.
Cypherpunk happens to be one of the biggest Zcash crypto holders. It currently holds almost 2% of the privacy coin’s total supply, hence its interest in the project’s success.
In its latest publication, Cypherpunk revealed numerous recommendations for Zcash’s network upgrade 7 (NUP7). According to the publication, Cypherpunk is not only in favor of faster block times but also of the upgrade taking place as soon as possible.
Despite these recommendations, Cypherpunk will not vote in the nu7 poll. The company did, however, note that it hopes that the community and shareholders will consider its recommendations.
ZEC Price Lends Itself to Profit-Taking After Last Week’s Rally
ZEC crypto was one of the biggest gainers among the top coins last week. It pulled off a healthy 76% weekly gain, and even peaked at a new all-time high of $888.
However, ZEC bulls have since gone into a bit of a lull, paving the way for a significant pullback driven by profit-taking. The privacy coin was down to $779 at press time, after a 12% drop since Sunday.
The ZEC crypto price fell by 7.6% on Tuesday, which was significantly more than its drop on Monday. This was noteworthy because Grayscale’s ZCSH ETF launched on Tuesday.
In other words, the Grayscale Zcash crypto ETF launch turned out to be a sell-the-news kind of event. Onchain data also backed this observation.
The privacy coin recorded $43.4 million in outflows on Tuesday. This was the highest daily spot outflows that ZEC crypto experienced since 4 June.
The pullback occurred right after Zcash opened, surging to $1.94 billion. This was its highest level in history. It cooled to $1.59 billion at press time, but the spike was a proper indication of the level of appeal that the privacy coin has been attracting.
Grayscale Head of Trading Reveals Reasons Behind Rising Appeal for ZEC Crypto
Grayscale’s Zcash ETF launch this week was a significant event, as was the spike in open interest. Although the cryptocurrency did not react as expected on the launch date, the ETF launch underscores a major move that could set the stage for heavy institutional demand.
Krista Lynch, the head of Trading at Grayscale, recently described Zcash as an ideal diversification option beyond Bitcoin. She noted that the world is increasingly moving towards privacy, and Zcash is one of the few coins uniquely positioned as an ideal privacy solution.
Grayscale is one of the largest companies offering exposure to crypto through tailored investment products. The fact that this company has been actively championing Zcash as an ideal product underscores mainstream recognition.
This kind of recognition could put ZEC crypto into the crosshairs of most crypto investors on both the retail and institutional fronts. Polymarket currently predicts a 66% chance that ZEC price will rally to $900 and a 15% chance that it will hit $1100 before the end of 2026.
These Zcash price predictions reflect the rising confidence in the cryptocurrency. The fact that it is currently one of the few privacy coins still operating on major exchanges is also a key reason for long-term bullish confidence.
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