Zcash Falls 3.04% as Futures Open Interest Stands at $2.37 Billion

As of 2:36 a.m. ET (06:36 UTC) Oct. 23, Zcash (ZEC) traded at $1,227.72, down 3.04% over 24 hours, while futures open interest stood at $2.37 billion, with available figures offering no clear trigger.

A market snapshot checked at about 2:35 a.m. ET (06:35 UTC) listed $7.21 billion in futures volume and $515.12 million in spot volume over 24 hours. Futures liquidations totaled $9.82 million during that period. Those figures do not establish that liquidations drove the decline.

Futures open interest tracks outstanding contracts. The market figures also do not link the price move to Zcash’s planned NU7 network upgrade.

NU7 is targeted for around Nov. 5. NU7 is intended to shorten the target interval between blocks to 25 seconds from 75 seconds, without changing daily ZEC issuance. The activation block height has not been set.