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Olivia Rose
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ZEC's NU7 upgrade on Nov 5 matters more than the whale buy — cutting block time from 75s to 25s is a real throughput change. But with price already off $1,400 to $1,243, the correction risk the post flags is worth respecting.
清遥
On November 2nd, an address (t1JJnA) spent $3.8 million to buy 3,052 $ZEC spot coins at an average price of 1250.
At the same time, they also opened a 2x long position of 8,000 $ZEC contracts, worth $10.16 million.
Spot plus contracts, they spent nearly $14 million in total.
The ZEC NU7 mainnet upgrade is scheduled for November 5th, reducing block time from 75 seconds directly to 25 seconds, but instead of waiting for the upgrade to go live, they positioned themselves three days in advance.
The awkward part is, the NU7 news had been out for a while, yet ZEC’s price steadily dropped from 1400 down to 1243.
But ZEC has a history. In the past two years, every time news was bought to push the price up, the actual launch was met with selling.
Some analysts have directly warned that after NU7 goes live, ZEC could face a 50%-70% correction‼️
Whether this $14 million can be fully withdrawn safely depends on the period around November 5th.
$ZEC #ZEC现货ETF首次周度净流出，NU7升级推进
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