Bitcoin's -3.27% on the week and
$ZEC is +5.47%, and today's development is a draft ZIP from co-founder Sean Bowe to end the 8% block reward slice paid to Zcash Community Grants and send it into the Network Sustainability Mechanism, the reserve NU7 switches on around Nov 5. 🔐
1. Price is 1,287 USDT against a 24h range of 1,210 to 1,288, one dollar off the high, so the whole day was built upward and the top hasn't been sold into yet.
2. Funding sits at +0.007% on 152M USDT of volume, the third-biggest 24h turnover in the data after Ethereum and Solana, which reads as spot-led size rather than a leveraged squeeze. 📊
3. The 24h is +2.74% against a 7d of +5.47%, so today is about half the week's move, a steady bid rather than a one-session spike, fitting a governance story that still has no activation height and already has pushback on the Zcash forum.
Losing 1,210, the bottom of the 24h range, is the level I'm watching, because that would put
$ZEC back in step with the tape it's been ignoring.
Today the data adds up to a coin at the top of its range, on flat funding, moving against a soft Bitcoin while the community argues over where its block rewards go. ⚖️
#ZEC #Governance #FundingRates #RangeTrading