The Ironwood upgrade helped reinstate confidence in the network, but not enough to attract strong capital inflows.
Zcash (ZEC) faces renewed downside pressure and a potential drop toward its 200-day exponential moving average near $425 following an early rejection of the $520 resistance.
Zcash is preparing for one of its most significant governance events in recent years as coinholders will vote on the scope of the upcoming NU7 network upgrade. Scheduled to begin on Aug. 25 and run for approximately 18 days, the vote will determine several protocol-level decisions that could shape the network's future development.
Zcash price could rally toward $600 before a bear flag breakdown sends ZEC below $300, with declining volume reinforcing the bearish setup.
Digital Currency Group (DCG) CEO Barry Silbert, who remains one of the crypto industry's biggest entrepreneurs, has shared a major infrastructure milestone within his portfolio as DCG-controlled mining platform Fortitude has officially confirmed the acquisition of a new 12.5 MW data center in Prosser, Nebraska.
Fortitude Mining completed the cash acquisition of a 12.5 MW mining facility for a net outlay of about $4.7 million after credits.
On Monday afternoon, Zcash surged nearly 5% to reach a session high near $494, reclaiming an $8 billion market capitalization and solidifying its position as the top privacy coin. Privacy as Crypto's ‘Last Frontier' On the afternoon of Aug.
Zcash (ZEC) has entered a pivotal technical phase after surrendering part of its strong July rally, with the cryptocurrency now testing key moving-average support that could determine its next major move. At the time of writing, ZEC is trading near $457, down from its recent local high of around $580.
Zcash [ZEC] gained 3.2% over the past 24 hours and is trading at $475.95 at the time of writing, outperforming a largely flat Bitcoin [BTC] after the successful rollout of its highly anticipated Ironwood network upgrade. Activated on July 28, the upgrade fixed a previously disclosed counterfeiting flaw by replacing the older Orchard shielded poolContinue reading "Zcash's Ironwood upgrade boosts token, but is it enough for ZEC to break its bearish trend?
Zcash activated Ironwood on July 28, sealing the Orchard shielded pool and opening a replacement pool under the NU6.3 rules. ZEC traded near $474 at publication, below the $500 area that held for much of July, and was 12.4% lower over seven days.
Zcash (ZEC) is showing signs of stabilizing after a two-week pullback, with technical indicators suggesting the privacy-focused cryptocurrency could still rally toward the $500 level if buyers continue defending critical support zones. At the time of writing, ZEC is trading around $476, rebounding after briefly slipping below its 50-day moving average before quickly reclaiming the level.
Gemini's support for shielded Zcash withdrawals to Ironwood may bolster confidence in privacy-focused crypto, despite past vulnerabilities. Gemini enables shielded Zcash withdrawals to Ironwood pool.