ZEC fell roughly 8%–8.5% in the past 24 hours to around $1,185 after approximately $19.9M–$26M in leveraged long positions were forcibly liquidated. The Zcash Foundation is set to decide the activation height for the NU7 network upgrade on Oct. 20.
• The upgrade could cut block times to 25 seconds.
• The pending decision is adding volatility and uncertainty to ZEC price action.
The liquidation event shows crowded leverage, while the NU7 decision could keep ZEC volatile into the catalyst.