Zcash Rallies Toward $1,370 Ahead of Network Upgrade

The price action follows a period of consolidation, with recent data showing ZEC fluctuating between $1,159 and $1,347. Analyst Jesse Olson noted that the asset has found support on daily charts and is currently exhibiting a pending buy signal. Meanwhile, market participant Ardi identifies the $1,370 mark as the critical threshold for further momentum, suggesting that a breakout above this level would force a liquidation of short positions currently stacked in that range.

Technological shifts under the NU7 protocol are set to take effect around November 5 at block 3,543,405. The upgrade introduces ZIP 218, which reduces the target block time from 75 seconds to 25 seconds while adjusting issuance to maintain the existing 21 million supply cap. Additionally, the new Network Sustainability Mechanism will allocate 60% of transaction fees to a reserve fund. Beyond the technical transition, the Zcash ecosystem is recalibrating its financial structure following the Zcash Community Grants committee's decision to withdraw a proposal that would have diverted 98,000 ZEC toward mining rewards. This leaves competing funding models, such as the 50,000 ZEC proposal from Tachyon Group and Shielded Labs, as the primary alternatives for future treasury allocation.