Zcash holds near $1,300 as NU7 upgrade fuels bullish momentum

Zcash traded around $1,300 on Friday, outperforming major cryptocurrencies as the broader market absorbed more than $1 billion in derivatives liquidations from the previous day. The privacy-focused cryptocurrency was supported by anticipation of Network Upgrade 7, scheduled for activation Friday at block height 3,543,405, which is designed to speed block confirmations, retire older shielded transaction pools and add a mechanism for long-term network sustainability. Grayscale’s ZEC-focused exchange-traded fund, ZCSH, recorded $10.99 million in net outflows on Thursday, taking weekly withdrawals to $14.77 million. ZEC remained below resistance at $1,340, with support around $1,216 and $1,112.