Zcash Price Rebounds Above $1,100 Amid ETF Outflow Pressures
Zcash has recovered above $1,100 after falling during the past 24 hours, while US funds recorded continuous withdrawals.
Zcash ($ZEC) recovered above $1,100 after hitting a daily low near $1,050, gaining 3.8% over 24 hours, according to data from CoinGecko. The privacy token traded in a daily range between $1,049.90 and $1,186.79, marking an 8.1% recovery from its lowest point.
Despite the bounce, ZEC remained well below September trading levels, where it closed at $1,438.21 on Sep. 30. CoinGlass data recorded $2.29 billion in outstanding ZEC futures open interest and $13.55 million in daily liquidations during the reporting window.
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ETF Outflows and Proposed Products
U.S. Zcash funds experienced notable withdrawals during the market correction. Crypto.news reported $93.56 million in weekly Zcash ETF withdrawals for the period ended Oct. 2, citing SoSoValue data. A subsequent report by Farside Investors recorded an additional $30.8 million in fund outflows during Oct. 5–9.
Simultaneously, product applications progressed. Winklevoss Asset Services proposed a spot Zcash ETF to trade on Nasdaq under the ticker WINK, holding underlying assets with Gemini Trust Company. Additionally, developers targeted Nov. 5 for the NU7 network upgrade, with a mainnet activation decision scheduled for Oct. 20.
Network Activity and Privacy Research
Shielded pool balances reached 4.96 million ZEC on Oct. 18, representing an increase of 1% over 28 days and accounting for roughly 29.2% of the total token supply, according to Zcash Stats. In parallel, Zakura developer Adam Tucker proposed separate incoming viewing keys for cross-chain swaps to mitigate exposure to potential future quantum attacks on NEAR Intents.
Key facts
- Zcash recovered above $1,100 after dropping to a daily low near $1,050, gaining 3.8% over 24 hours.
- CoinGecko recorded ZEC at $1,135.48, down 10% over seven days.
- CoinGlass tracked $2.29 billion in ZEC futures open interest and $13.55 million in liquidations.
- Shielded balances rose 1% over 28 days to reach 4.96 million ZEC.
- U.S. Zcash funds registered $93.56 million in weekly withdrawals for the period ended Oct. 2.
Source: crypto.news
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