Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ZEC TLDR
Grayscale的ZEC ETF迎来强劲资金流入
ZEC开发基金辩论引发投资者分歧
周日，ZEC价格跌至1,429美元，单日跌幅约5%。此前该代币曾在年内创下1,590美元的高点。此次回调终结了连续多日两位数涨幅的势头，并与Grayscale宣布其ZEC ETF实施3合1股份拆分的时间相吻合。尽管出现回调，ZEC在过去七天内仍上涨31%，自6月22日以来累计涨幅超过200%。
Grayscale的ZEC ETF于8月25日启动，目前持有9.14亿美元净资产。围绕将于2028年到期的Zcash开发基金（Development Fund）的治理争议，吸引了Haseeb Qureshi、Matt Huang和Naval Ravikant等知名人士的评论。
Zcash价格动态
Zcash (ZEC) 周日跌至1,429美元。此前，该代币在9月18日触及年内高点1,590美元。此次回调导致单日下跌约5%，并结束了此前连续多日录得两位百分比涨幅的局面。
价格变动与Grayscale的公告时间重合。这家资产管理公司表示，将于9月30日起对其Zcash ETF实施3合1的股份拆分。拆分旨在降低ETF每股的价格，但不会改变投资者持有的总价值。
Even after experiencing declines, ZEC still gained support above $1,440. In the past seven days, the token has increased by 31%. ZEC has climbed more than 200% since trading at $445 on June 22. Since hitting an absolute low of $16.04 on July 4, 2024, its increase has exceeded 8,800%.
Grayscale's ZEC ETF experienced strong inflows
The Grayscale Zcash ETF was launched on August 25. Since its launch, only two trading days have recorded net outflows. As of September 18, the fund's net assets reached $914 million. The price correction has brought ZEC's total market value back down below US$25 billion.
Retail buying activity has also picked up. Traders on social media described the rally as a "reflex cycle" and believed it could push prices further higher over time.
Sanitation data shows that before the callback, the number of mentions of ZEC on the X platform (formerly Twitter) increased 6.8 times. Some market observers question whether some of this activity is artificial traffic.
Development fund debate sparks investor divisions
As the current Zcash development fund structure expires in 2028, market attention turns to Zcash's future funding sources. The fund allocates a certain percentage of block rewards for protocol development work.
Dragonfly managing partner Haseeb Qureshi proposed phasing out the fund at maturity. He said the fund's balance of approximately $95 million was enough to cover the remaining workload required.
Qureshi warned that if the size of the treasury grows beyond $100 million, it could increase controversy over how to distribute grants.
Paradigm co-founder Matt Huang holds a different view. He posted on the X platform that continued development funding is crucial to allowing Zcash to respond to future risks, including quantum computing and AI-driven monitoring.
AngelList co-founder Naval Ravikant responded to Huang's post, refuting the argument of continued off-chain financial support. He wrote: "The second point is tantamount to saying that shareholders should not control a company. It uses fancy terms such as 'community' to appoint trusted third parties to operate outside the chain. This will trigger Sybil attacks and endless political battles. Blockchain is a market, not a democracy or aristocracy."
The confrontation between Huang and Ravikant has become a reference case in a broader debate about how the project should be governed when the current funding structure ends in 2028.
