Zcash Faces Downhill Trend After NU7 Hard Fork
Key Summary
Samson Mow, a Bitcoin maximalist, has criticized Zcash's 1,000% year-to-date surge, citing an artificially inflated market capitalization of $22 billion. Mow believes the market's speculative capital is insufficient to sustain Zcash's top-10 valuation. He attributes the coin's rise to flawed governance, high fees, and centralization. In contrast, Zcash supporters attribute its growth to recent infrastructure changes, including the NU7 upgrade, which increased block generation speed. Zcash's liquidity has been supported by THORChain pools and a $306 million Grayscale inflow, but also saw its first major outflow of $93 million.
Zcash Faces Downhill Trend After NU7 Hard Fork
Samson Mow, a prominent Bitcoin advocate, has voiced skepticism over Zcash's significant year-to-date surge, predicting a market correction as the NU7 hard fork approaches, just as the coin faces a major upgrade.Mow, who has been critical of Zcash's growth, believes that the recent price increase is unsustainable and will lead to a sharp decline once the NU7 hard fork is implemented.