Zcash (ZEC) shows resilience above $1,300 on Friday, defying the broader cryptocurrency market sell-off, which saw over $1 billion in liquidations the previous day. This strength aligns with Network Upgrade 7 (NU7), scheduled for Friday, which enables faster payments and disables older transaction pools.

Grayscale’s ZEC-focused Exchange-Traded Fund (ETF) recorded nearly $11 million in outflows on Thursday, suggesting selling pressure from institutional investors, while its elevated Open Interest points to a firm buildup in leveraged positions. Technically, Zcash must confirm a breakout above the $1,340 horizontal barrier to reinstate a bullish trend.

Zcash derivatives demand offsets ETF outflows ahead of the Network Upgrade

Zcash holds…