Zcash futures open interest (OI) declined 3.35% in the past 24 hours, reaching $2.44 billion, according to fresh data from CoinGlass. The coin’s Cumulative Volume Delta (CVD) was the most negative among large-cap cryptocurrencies during this period, signaling that selling via market orders strongly outweighed buying.
Liquidations and Futures Flows Highlight Bearish Sentiment
CoinGlass reported notable changes in Zcash’s futures flow within the last day. Outflows stood at $1.96 billion, while inflows were slightly lower at $1.87 billion. The combined effect was an 859.86% decline in net futures flow, suggesting a broad shift in trader positioning.
Traders appeared to be reassessing risk as a wave of liquidations impacted leveraged long positions. Total liquidations for Zcash in the last 24 hours amounted to $15.76 million. Of this figure, $12.96 million resulted from liquidated longs, while $2.81 million came from shorts. The majority of the pain was felt by those betting on price increases.
During the steep decline, Zcash’s CVD turned the most negative among major cryptocurrencies, highlighting sustained market-order sell pressure and a preference among traders to reduce long exposure.
The funding rate, meanwhile, remained positive, indicating that traders holding long positions continued to pay funding fees to those shorting ZEC.
Operational Updates: Binance and ZEC Withdrawals
Binance, one of the world’s largest cryptocurrency exchanges, has restored withdrawals for the Zcash network. The resumption follows a recent hack that affected nearly $6.3 billion in client assets across several crypto networks. The platform reactivated ZEC withdrawals days after the incident, restoring access for users seeking to move ZEC on and off the exchange.
Given the volatility in Zcash futures and the recent reopening of withdrawals, traders may find it useful to monitor price moves and on-chain flows in real time. CryptoAppsy provides specialized price alert features that can notify users instantly about significant ZEC movements, helping them act swiftly as liquidity and funding dynamics evolve.
NU7 Network Upgrade and Technical Changes
The upcoming NU7 network upgrade on Zcash introduces several technical improvements designed to enhance efficiency and security. One of the key changes is a reduction in block times from 75 seconds to 25 seconds, making transactions faster.
The upgrade will also implement a Network Sustainability Mechanism, which recycles a portion of each transaction fee into future block rewards. This change is intended to strengthen the incentives for validators while maintaining network sustainability. Additionally, new shielded transaction limits will be introduced to guard against spam attacks on users’ wallets.
The NU7 activation has been scheduled for mainnet block height 3,543,405, with the timeline estimating this will occur around November 5. The upgrade will enforce per-block limits for Shielded Pools including Orchard, Ironwood, and Sapling. No new Sprout JoinSplits will be allowed after activation.
As detailed in ZIP 218, these new limits are expected to more than double the throughput of the Orchard protocol, boosting it from 2.9 to 6.6 transactions per second. The same change will also reduce the maximum possible sync bandwidth that bad actors can impose on light wallets by about 37%.
NU7 brings faster blocks, sustainable fees, and stricter protections against spam, collectively aiming to improve Zcash’s usability and resilience for both regular users and application developers.
