The proposed activation height is 3,543,405. NU7 would also disable version 4 transactions, making funds remaining in Sprout unspendable.
Short liquidations totaled $330,000 across three exchanges during the hour, compared with $40,000 in long liquidations.
The proposed activation point is block 3,543,405, expected around Nov. 5. It still needs to be added to the deployment rules and node software.
The upgrade would cut the target interval between blocks from 75 seconds to 25 seconds. Funds left in Sprout at activation would become unspendable.
NU7 would also close Sprout, Zcash's original private transaction system, requiring holders to move any remaining funds before activation to keep them spendable.
The NU7 network upgrade remains planned for Nov. 5.
The $3.4 million position was opened at $1,179.50 per ZEC and closed at $1,244.50. The trader's cumulative losses stood at $1.82 million.
The positions cover 29,798 ZEC and were opened over a 15-hour period.
Zcash rebounds as reported October ETF redemptions exceed $115M. ZEC faces resistance at $1,300–$1,350 while derivatives and upgrade risks persist.
The upgrade would shorten the target block interval to 25 seconds and direct 60% of transaction fees to a reserve for later issuance.
Upgrade Timeline: Zcash developers agreed on activation block 3,543,405 for NU7, with mainnet deployment expected around Nov. 5 pending final specifications and software updates. Faster Transactions: NU7 reduces block times from 75 seconds to 25 seconds, allowing confirmations to arrive significantly faster for users and exchanges.
Both groups retained cumulative net inflows after the Oct. 20 trading session: $154 million for Zcash funds and $85.9264 million for NEAR funds.