Zcash Drops 21% From Recent High—Here’s Why the Rally May Not Be Over
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Zcash is nearing completion of its mathematical proof to prevent hidden issuance vulnerabilities; ZEC rises 12%.
According to Odaily Odaily, Zcash's native token ZEC rose more than 12% on Tuesday after the team responsible for developing its privacy pools said they were close to completing a mathematical proof to confirm that there was no undetectable forgery or over-issuance vulnerability in the latest Zcash shielded pools. This verification work is being carried out by Project Tachyon, targeting Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, aiming to demonstrate that the latest Zcash privacy pool does not have undetectable proliferation vulnerabilities. This development stems from the disclosure last month of a serious forgery vulnerability in Zcash Orchard's shielded pool. At the time, this vulnerability caused market concerns that Zcash's privacy system might have undetectable hidden inflation risks, causing ZEC to fall by more than 40% within two days. Developers say that with the help of AI-assisted formal verification, proof work that might have previously taken years can now be compressed into weeks. This news pushed the ZEC back above $500, its highest level since early June. (The Block)
US pre-market news highlights: EDA giants focus on AI chip design; SpaceX officially included in the Nasdaq 100 index; Analysts say AI computing power demand is far from peaking.
Mars Finance reports the following key financial news from the US stock market that investors should pay attention to: 1. US stock index futures showed mixed results. Dow Jones futures rose 0.29%, S&P 500 futures fell 0.15%, and Nasdaq 100 futures fell 0.94%. 2. International oil prices rose slightly. WTI crude oil futures rose 0.61% to $68.967 per barrel; Brent crude oil futures rose 0.74% to $72.526 per barrel. 3. International gold and silver spot prices fluctuated narrowly. Spot gold rose 0.03% to $4166.01 per ounce; spot silver fell 0.64% to $61.62 per ounce. 4. European stock indices all fell. The UK FTSE 100 rose 0.47%, the French CAC 40 rose 0.20%, and the German DAX 30 fell 0.63%. 5. EDA giant Synopsys informed more than 10 chip manufacturers, including Samsung Electronics and SK Hynix, in April and May that it would "suspend" some of its wafer fab manufacturing analysis software, shifting resources to the more profitable AI chip design business. 6. SpaceX, owned by Elon Musk, was officially included in the Nasdaq 100 index today, becoming the first company in the index with a space business at its core. JPMorgan Chase estimates its weight in the index at approximately 1.3%. Wall Street generally gave it an "initial bullish" rating, with a target price as high as $800. 7. Google invested over €400 million in Proxima Fusion, a European nuclear fusion "unicorn" company, with the aim of building a commercial fusion power plant by the 2030s. 8. Anthropic announced a 20-year AI data center lease agreement with AI data center operator TeraWulf. The project has a capacity of approximately 401 megawatts and is expected to be operational in the second half of 2027, reaching full capacity in early 2028. 9. A recent report from semiconductor research firm SemiAnalysis indicates that AI computing power demand is far from peaking. The firm predicts that Meta computing power procurement will accelerate, and capital expenditure may increase significantly next year. 10. Walmart and its Sam's Club announced price reductions on thousands of popular summer items and everyday essentials across the United States. 11. Microsoft raised its Microsoft 365 Enterprise subscription fee earlier this month, with increases ranging from 8% to 33%. Personal and Education versions are currently unaffected. (Cailian Press)
Zcash gains 20% as Paradigm founder reveals firm made ZEC investment
Zcash rose about 20% in 24 hours as Paradigm co-founder Matt Huang disclosed that the firm invested in ZEC amid a broader crypto market rally.
Zcash hits highest price since 2016 as market cap tops $20B
ZEC gained 45% over the past week, extending its rally since Grayscale converted its Zcash Trust into an ETF that began trading Aug. 25.
Data: Recently listed crypto companies have seen their average stock price fall by 73% from its peak, with Gemini dropping over 90%.
According to a report by 10x Research, recently listed crypto-related companies have seen their share prices plummet from their post-IPO highs. Gemini (GEMI) has fallen 91%, Amber (AMBR) 89%, BitGo (BTGO) 79%, Circle (CRCL) 78%, Coinbase (COIN) 63%, and Securitize (SECZ) 41%. Data shows that these eight recently listed crypto companies are down an average of 73% from their post-IPO highs. The report points out that post-IPO price crashes have become a common phenomenon for crypto IPOs, and investors need to adopt more systematic strategies to cope with such volatility.
On the eve of SPCX's inclusion in the Nasdaq: Retail investors tend to be bullish and chase the rally, but whale place a $4.4 million sell order above.
According to BlockBeats, on July 7th, Hyperinsight monitoring showed that SPCX would be officially included in the Nasdaq 100 index before the US stock market opened today. However, Hyperliquid showed no signs of a one-sided long position. As of press time, SPCX was trading at $156.2, with a 24-hour trading volume of approximately $290 million. The large order book structure shows approximately $4.96 million in short covering buy orders in the $135-$155 range, while approximately $4.45 million in sell orders are located above this range of $156.3-$175.0. The SPCX order book is as follows: - Short covering/profit-taking buy orders: 116 orders, price range $135.0 - $155.1, approximately $4.95 million; - Sell orders at the top: 26 orders, price range $156.3 - $175.0, approximately $4.44 million; - Below are 17 buy orders, with a price range of $147.5 - $155.9, totaling approximately $1.8 million. Among the three types of orders, short covering buy orders ranked first in both number and size. Coupled with selling pressure above, large funds intend to "distribute at higher prices and buy back at lower prices". On the open interest side, there is a stratification between long and short positions, with the degree of shortness increasing progressively with position size, indicating that retail investors tend to be bullish. - Fully visible positions of $100,000 or more: 183 trades, totaling approximately $141 million, with a short/long ratio of approximately 1.15; - Large positions exceeding $1 million: 17 transactions, totaling approximately $55.76 million, with a short/long ratio of approximately 2.06; - Small to medium positions of $100,000 to $1,000,000: Long/Short ratio of approximately 1.25, which is the only level with a net bullish bias. At the whale cost line, the weighted cost of large long positions is about $164.59 and the weighted cost of short positions is about $169.68, both higher than the current price. Short positions are generally in profit while long positions are generally trapped. On the liquidation line, the most recent short liquidations are concentrated around $195.7 to $198.0, totaling approximately $10.44 million; long liquidations are mainly located around $97 and $110, both of which are far from the current price.