<p style="text-align: justify">Zcash, the privacy-focused cryptocurrency, has seen its open interest decline by 7.8% based on recent figures from analytics provider Coinglass. Open interest indicates the total value of outstanding futures contracts, reflecting the scale of active positions in the market.</p>
<h2 id="simultaneous-price-and-open-interest-decline">Simultaneous price and open interest decline</h2>
<p style="text-align: justify">The decrease in both Zcash’s price and open interest points to potential deleveraging among traders. Typically, such a simultaneous drop suggests that investors are closing positions or experiencing liquidations.</p>
<p style="text-align: justify">ZEC currently trades near $1,286, reflecting a 1.5% decrease over the last 24 hours. This movement comes amid a wider market downturn, as <a href="https://en.coin-turk.com/jack-mallers-advocates-for-a-strategic-bitcoin-reserve-in-the-u-s/" rel="noopener noreferrer nofollow">Bitcoin</a> fell by 5.75% in the same period.</p>
<blockquote>
 <p>ZEC trades close to $1,286 after a 1.5% daily decline, while open interest contracts 7.8%, signaling potential deleveraging among traders as the overall crypto market faces renewed selling pressure.</p>
</blockquote>
<h2 id="nu7-upgrade-introduces-major-changes">NU7 upgrade introduces major changes</h2>
<p style="text-align: justify">Despite the short-term correction, Zcash surged 7.69% on November 4 in anticipation of the network’s NU7 upgrade. The update brings multiple enhancements to transaction processing speeds and the protocol’s fee structure.</p>
<p style="text-align: justify">NU7 went live on November 5 and reduced the network’s target block interval from 75 seconds to 25 seconds. According to project developers, this change allows private transactions to confirm three times faster, enhancing usability for Zcash holders.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: NU7, or Network Upgrade 7, is a major software update for the Zcash network featuring transaction speed improvements, revised fee structures, and expanded network capacity.</p>
<p style="text-align: justify">The NU7 upgrade also introduces a new transaction fee allocation system. Now, 60% of fees are allocated to a reserve for future network use, while miners receive 40%. This aims to provide greater sustainability for ongoing development and network incentives.</p>
<p style="text-align: justify">Additional changes include increased performance for the Orchard shielded pool, allowing for more private transactions, and new protections in place to safeguard wallets from spam activity.</p>
<h2 id="outlook-and-key-technical-levels">Outlook and key technical levels</h2>
<p style="text-align: justify">Market reactions to NU7 have been mixed, especially as a general correction pressured broader crypto prices on Friday. Still, technical indicators on the ZEC chart suggest an emerging uptrend.</p>
<p style="text-align: justify">The price is currently testing support at around $1,250, a key level that could determine Zcash’s next move. Analysts observe that a recovery above the $1,260 to $1,275 range would likely stabilize ZEC and help maintain upward momentum.</p>
<p style="text-align: justify">Failure to hold above $1,230, however, could mark a failed recovery attempt and indicate a prolonged downtrend for the token.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Level</th>
   <th>Significance</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>$1,250</td>
   <td>Key support</td>
  </tr>
  <tr>
   <td>$1,260 – $1,275</td>
   <td>Recovery zone</td>
  </tr>
  <tr>
   <td>$1,230</td>
   <td>Downtrend trigger</td>
  </tr>
 </tbody>
</table>
<p>The post <a href="https://en.coin-turk.com/zcash-open-interest-drops-7-8yuzde-nu7-upgrade-speeds-up-confirmation-times/" rel="noopener noreferrer nofollow">Zcash open interest drops 7.8%, NU7 upgrade speeds up confirmation times</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Zcash open interest drops 7.8%, NU7 upgrade speeds up confirmation times

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