Zcash Reveals Major NU7 Upgrade Date; Is Grayscale’s $8,100 ZEC Price Rally Coming Sooner?

Varinder Singh
Varinder Singh

Varinder Singh

Independent Sr. Journalist
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More
Varinder is a seasoned leader in the fintech and crypto media with over 13 years of experience, including over 7 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Read full bio
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Zcash Reveals Major NU7 Upgrade Date; Is Grayscale's $8,100 ZEC Price Rally Coming Sooner?

Highlights

  • Zcash plans major NU7 upgrade's testnet activation on October 6 and mainnet activation on November 5.
  • The upgrade cut block times from 75 to just 25 seconds, keeps existing halving schedule, and disable older v4 transactions.
  • ZEC price hits an new high above $1,500 today, Grayscale predicted rally to $8,100.

Zcash development organizations reached an agreement to proceed with the major NU7 upgrade and announced a timeline for it. As a result, ZEC price skyrocketed by 10% to hit a new high of $1,526 today. Will Grayscale’s $8,100 Zcash price target to hit sooner than expected?

Zcash NU7 Upgrade Set for November

Zcash co-founder Sean Bowe revealed unanimous agreement reached among Zcash Foundation, Project Tachyon, Valar Group, ZODL, Shielded Labs, and other organizations and engineering teams to announce the NU7 upgrade date.

The team plans the testnet activation on October 6 and the mainnet activation on November 5. Before then, the team will make a final decision on block height and mainnet activation on October 20, after almost two weeks of testnet activation. Notably, the code for the planned features is also targeted for completion by September 30.

The NU7 upgrade would cut block times from 75 seconds to just 25 seconds. That means faster confirmations and better transaction performance. The upgrade also keeps Zcash’s existing halving schedule and will disable older v4 transactions.

This upgrade is expected to have no significant impact on wallets, but may affect infrastructure such as full nodes, indexers, and block explorers.

Will Grayscale’s $8,100 ZEC Price Rally Prediction Come Earlier?

As CoinGape reported earlier, Grayscale predicted Zcash price could rally to $1,622 if its market share rises to 2% of Bitcoin. Since then, ZEC market share has increased to almost 1.65%.

ZEC price has rallied almost 100% since then and 170% since CoinGape first reported about Grayscale closer to launch Zcash ETF. The price broke a new high of $1,526 today despite a decline in trading volume by 10% over the past 24 hours.

In addition, Paradigm founder Matt Huang’s comments on ZEC holdings and investment in ZODL wallet sparked a massive buying sentiment. Also, crypto billionaire Arthur Hayes plans to shill Zcash, saying “Should I top blast ZEC?”

Grayscale Head of Research Zach Pandl argued Zcash may have a 10% market share relative to Bitcoin in the next 5 years. However, Grayscale’s prediction of ZEC price rally to $8,100 could come sooner if the current trend continues.

To buy or trade ZEC during this period of high trading volume, investors can check the industry’s leading regulated crypto exchanges comparison to find the safest platforms.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
AD
BestChange

Instant Currency Exchange at BestChange with Ease

  • Compare Rates Across 1000+ Exchanges
  • Access 250+ Cryptocurrencies & Pairs
  • Save Time with Real-Time Price Tracking
  • Trusted & Verified Exchange Listings
MemeToro

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Newsletter
Your crypto brief.
Delivered every day.
  • Insights that move markets
  • 100,000 active subscribers
By signing-up you agree to our Terms and Conditions and Privacy Policy.
About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 13 years of experience, including over 7 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.