Tag: Ironwood upgrade

  • Zcash Drops Below $470 as Ironwood Upgrade Fails to Spur Demand

    Zcash Drops Below $470 as Ironwood Upgrade Fails to Spur Demand

    Zcash fell below the $470-$472 support cluster shortly after the Ironwood upgrade activated on July 28. ZEC traded near $461 as negative spot and futures flows continued to pressure the market.

    Ironwood Closes Orchard Supply Gap

    Developers discovered a soundness flaw in the zero-knowledge circuit behind Orchard, Zcash’s shielded pool. In theory, the flaw could have allowed counterfeit ZEC to be created undetected. A patch was delivered in June, and no evidence of exploitation was found. However, Orchard’s privacy design prevented users from independently verifying the pool’s recorded supply.

    Ironwood introduces a new shielded pool and version 6 transactions. It also closes Orchard to new deposits and routes withdrawals through a capped turnstile, limiting outflows to the total amount previously deposited. As balances enter the new pool, users can verify that migration creates no additional ZEC.

    Negative Flows Follow Earlier Price Weakness

    ZEC approached $560 earlier in July before forming lower highs and lower lows. By activation day, the price remained inside a falling channel near the $470 cluster. Ironwood had been widely discussed for weeks, but its activation did not attract enough demand to reverse the decline already visible on the chart.

    Coinglass data showed negative spot flows across every displayed period. The 12-hour balance recorded $10.2 million in inflows and $12.81 million in outflows, leaving a $2.6 million deficit. The eight-hour balance stood at negative $1.65 million, while four-hour flows reached negative $935,000. Futures also remained negative over longer periods, with the 12-hour balance at negative $7.1 million and the eight-hour reading at negative $2.98 million. Shorter futures windows turned positive, adding $418,000 over four hours and $213,000 over one hour.

    ZEC Faces Resistance Before $484

    The 0.382 Fibonacci level near $470 and the 50-day moving average at $472 formed a support zone that ZEC now trades below, turning them into resistance. The day’s high reached $470 near the Fibonacci level. A daily close above $472 would reclaim both barriers, while the 100-day moving average at $484 presents another hurdle.

    Below the market, $450 marks the nearest support and sits near the falling channel’s lower boundary. A close below that level could expose the 0.236 retracement near $420. More than 80% of all ZEC has entered circulation, reducing future dilution as Ironwood makes Orchard migration verifiable.

    Conclusion

    Ironwood closed a major supply-verification gap, yet ZEC fell below $470 as spot and longer-term futures flows remained negative. The market now watches $450 as the first support. A recovery above $472 would improve the technical picture, while losing $450 could expose $419-$420.

  • Bitcoin Holds Near $62,700 as Hormuz Tensions Lift Oil Prices, Zcash Prepares for Ironwood Upgrade

    Bitcoin Holds Near $62,700 as Hormuz Tensions Lift Oil Prices, Zcash Prepares for Ironwood Upgrade

    Bitcoin is trading in a tight band this week as geopolitical headlines take center stage. Oil prices surged after Washington signaled a renewed blockade on Iranian shipping through the Strait of Hormuz. Traders are staying cautious ahead of today’s inflation data.

    Most major tokens slipped modestly through the session, though the moves stayed shallow. Bitcoin held its footing near $62,700, and stablecoins barely budged. Attention now shifts to the CPI print and Fed Chair Kevin Warsh’s testimony for the next directional cue.

    Bitcoin Price Today

    Bitcoin trades near $62,736.94, down 0.04% over the past 24 hours. The figure reflects CoinMarketCap data tracked through today’s session. Price action remains sensitive to oil headlines and positioning ahead of today’s CPI release.

    Mudrex: Long-Term Holders Keep Accumulating

    Giving the market view, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is consolidating around the $62,500 zone as renewed US-Iran tensions and concerns over the Strait of Hormuz pushed oil prices higher and revived inflation fears.” He further mentioned that “markets are now focused on today’s US CPI report and Fed Chair Kevin Warsh’s testimony, both of which could shape expectations for interest rates. However, on-chain data shows long-term holders accumulating 5,912 BTC in just two days, signalling continued conviction. Bitcoin needs to reclaim $64,000 to strengthen momentum, while $60,000 remains the key support level.”

    ETF Flows Still Inconsistent

    Vikram Subburaj, CEO of Giottus, placed Bitcoin near $62,450, down about 1.6% on the day as investors turned cautious ahead of inflation data. He noted a $239 million net ETF outflow on July 13, following modest inflows the week before. Immediate support sits near $62,000, with resistance between $63,500 and $65,000. He advised staggered entries and limited leverage until the Fed outlook clears.

    Risk-Off Setup Persists

    Riya Sehgal, Research Analyst at Delta Exchange, shared the market view, noting that global markets have shifted into an inflation-led risk-off phase after oil prices jumped amid renewed tensions in the Strait of Hormuz. Rising yields and dollar strength have pressured both gold and crypto. Bitcoin remains range-bound between $61,200 and $64,000, with a break above $64,000 opening a path toward $65,600. Ethereum continues showing relative strength, with $1,850 as its next resistance test.

    Stablecoin Supply Dips

    According to the CoinSwitch Markets Desk, “BTC slipped below $62,000 as renewed US-Iran tensions weighed on sentiment, though it closed last week above its 200-week moving average. Stablecoin supply has declined slightly, suggesting some capital rotated back into fiat. The desk views this as a temporary correction rather than a structural liquidity problem, with this week’s CPI data as the next key trigger.”

    Institutional Confidence Holds Firm

    Meanwhile, Nischal Shetty, founder of WazirX, also said that Bitcoin briefly slipped below $62,500 as rising tensions in the Middle East pushed oil higher and triggered broader risk-off flows. Despite the dip, spot Bitcoin and Ether ETFs both logged net inflows last week, ending multi-week outflow streaks. He added that XRP traders should watch the $1.03 to $1.05 support zone, while Solana’s $73 to $75 range could draw early recovery attempts.

    Crypto Prices Today: Top 10 Coins at a Glance

    Here is a look at the top crypto prices today, based on CoinMarketCap data as of July 14.

    Biggest Decliners: HYPE, TRX, SOL

    Hyperliquid led today’s losses, down 2.69% after a strong run over recent weeks. TRON followed with a 1.73% dip, while Solana slipped 1.39% amid broader profit-taking.

    Steadiest Performers: USDC, USDT, DOGE

    USDC stayed flat, holding tight to its dollar peg through the session. Tether edged up slightly, while Dogecoin held close to unchanged, down just 0.17%.

    Crypto News Today Driving Market Sentiment

    Bitcoin and Ether ETFs End Eight-Week Outflow Streak

    US spot Bitcoin ETFs pulled in $197.4 million in net inflows last week, snapping an eight-week run of redemptions. BlackRock’s IBIT led the recovery with $291.9 million in fresh capital. Spot Ether ETFs added $84.42 million over the same period, also ending eight straight weeks of outflows. Analysts note it is still early to call this a durable trend given seasonal patterns ahead.

    Oil Surges as Iran-US Tensions Reignite Over Hormuz

    Oil prices jumped sharply after Washington signaled a renewed blockade on Iranian shipping through the Strait of Hormuz. The waterway carries close to a fifth of the global oil supply. The spike revived inflation worries just as markets await today’s CPI print. Equity futures weakened, and the dollar firmed, adding pressure on risk assets heading into the session.

    Clarity Act Remains Stalled as August Deadline Approaches

    The Digital Asset Market Clarity Act remains parked on the Senate calendar with no floor vote scheduled. Disputes over ethics provisions and stablecoin yield continue blocking the votes needed for passage. The Senate returned from recess on July 13, leaving roughly three working weeks before the August break. A miss this summer would likely push the bill into the tougher midterm-election calendar.

    Zcash Stays in Focus Ahead of Ironwood Upgrade

    Zcash has drawn steady attention as traders position ahead of the July 28 Ironwood network upgrade. The update targets a shielded-pool vulnerability flagged earlier this year. Rising open interest and improving sentiment have supported the token in recent sessions. Traders are watching whether it can hold above key support while the broader market stays choppy.

    Investor and Market Outlook

    Bitcoin holds near $62,700 as traders weigh oil-driven risk aversion against improving ETF demand. A close above $64,000 would strengthen the case for a retest of $65,500, while a slip under $61,600 risks exposing $60,000. Ethereum trades near $1,787, with $1,850 acting as the next resistance test. Most major tokens stayed within a narrow range today, reflecting a cautious rather than a fearful mood.

    Today’s CPI report and Fed Chair Kevin Warsh’s testimony are the key catalysts ahead. A softer inflation print would likely support risk assets, while a hot reading could revive rate-hike bets and pressure crypto further. The Clarity Act’s stalled path in the Senate keeps a layer of regulatory uncertainty over the medium-term outlook.

    FAQs

    What is the Bitcoin price today?

    Bitcoin trades near $62,736.94, down 0.04% over the past 24 hours. The $62,000 zone remains key support for traders, with $64,000 acting as the next resistance level to watch through the CPI-driven session.

    Why did oil prices spike today?

    Oil jumped after Washington signaled a renewed blockade on Iranian shipping through the Strait of Hormuz. The move revived inflation concerns ahead of today’s CPI data, adding pressure across equities, crypto, and broader risk assets.

    What is happening with the Clarity Act?

    The Clarity Act remains stuck in the Senate with no floor vote scheduled yet. Disputes over ethics rules and stablecoin provisions continue blocking the votes needed before the August recess begins, leaving passage uncertain this year.

    Why is Zcash drawing attention right now?

    Traders are positioning ahead of Zcash’s July 28 Ironwood upgrade, which addresses a shielded-pool vulnerability flagged earlier this year. Rising open interest and improving sentiment have kept the token active through recent sessions.

    What should investors watch this week?

    Investors should track today’s CPI report, Fed Chair Kevin Warsh’s testimony, ETF flow trends, and any fresh developments around the Strait of Hormuz, since all four are likely to steer near-term crypto price action.

  • Bitcoin ETFs See $95M Outflows, Bitmine Adds 20,500 ETH, TRON Hits 392M Accounts — Crypto Roundup

    Bitcoin ETFs See $95M Outflows, Bitmine Adds 20,500 ETH, TRON Hits 392M Accounts — Crypto Roundup

    Market Overview

    Major developments unfolded in the crypto space as Bitcoin spot ETFs recorded $95.30 million in net outflows, Bitmine expanded its Ethereum treasury with a major acquisition, and TRON surpassed 392 million wallet addresses. Additionally, Zcash confirmed its Ironwood upgrade for late July, while New Hampshire rejected a Bitcoin-backed bond proposal.

    Bitcoin Spot ETFs See $95 Million in Net Outflows

    According to SoSoValue, Bitcoin spot ETFs experienced a total net outflow of $95.30 million on the reporting day. Fidelity’s FBTC led outflows with a daily net draw of $63.25 million, bringing its total historical net inflow to $10.15 billion. On the inflow side, VanEck’s HODL ETF recorded the highest daily net inflow at $5.36 million (cumulative $1.13 billion), followed by Morgan Stanley’s MSBT with $2.17 million ($377.14 million total). The combined net asset value of all Bitcoin spot ETFs now stands at $76.51 billion, with an ETF net asset ratio of 6.03% and historical cumulative net inflows of $51.19 billion.

    Bitmine Acquires 20,500 ETH for $36 Million

    Bitmine Immersion Technologies purchased 20,500 ETH for approximately $35.92 million via an over-the-counter transaction with Galaxy Digital, executed around July 10, 2026. The purchase price was roughly $1,752 per ETH. This acquisition pushes Bitmine’s total Ethereum treasury to about 5.7 million tokens — worth nearly $10 billion — representing an estimated 4.7%–4.8% of the entire circulating ETH supply of ~120.7 million tokens. The move signals a quiet accumulation strategy by the company.

    TRON Surpasses 392 Million Accounts

    TRON’s blockchain explorer confirmed the network has surpassed 392 million wallet addresses since inception. According to DeFiLlama, TRON remains the dominant platform for Tether (USDT) transfers due to fast settlement times and extremely low fees — processing up to 2,000 transactions per second at roughly 0.0003 TRX per transaction. Lookonchain reported that TRON’s Total Value Locked (TVL) has risen by approximately $1.95 billion since July 1, a gain of 7.8%.

    New Hampshire Rejects Bitcoin-Backed Bond Proposal

    The New Hampshire Executive Council voted down a regulatory proposal to authorize $100 million in Bitcoin-backed bonds. The initiative, pushed by the state’s Business Finance Authority (BFA) and Governor Kelly Ayotte, had passed risk assessments from Moody’s. Opposition was led by Democrat Karen Liot Hill, joined by councilors Janet Stevens and David Wheeler; officials Joseph Kenney and John Stephen voted in favor. The rejection halts the state’s attempt to introduce this financial instrument.

    Zcash Confirms Ironwood Activation on July 28

    Zcash core developer Sean Bowe announced that the Ironwood upgrade will activate at block height 3,428,143, expected around 8 am EST on July 28 — a one-week delay from the original July 21 target. The postponement came after Shielded Labs raised concerns that exchanges, mining pools, and wallet providers might need more time to prepare, particularly as many are transitioning from the legacy zcashd software to the Z3 stack (Zebra, Zaino, Zallet). Ironwood addresses an ‘infinity’ bug discovered in Zcash’s Orchard shielded pool, the network’s primary privacy-focused transaction system.

    FAQs

    • How much outflow did Bitcoin spot ETFs record? Bitcoin spot ETFs recorded total net outflows of $95.30 million. Fidelity’s FBTC saw the largest outflow at $63.25 million, while VanEck’s HODL led inflows with $5.36 million.
    • How much Ethereum did Bitmine buy? Bitmine Immersion Technologies acquired 20,500 ETH for around $35.92 million through an OTC transaction with Galaxy Digital at approximately $1,752 per ETH.
    • Why is TRON’s 392 million account milestone important? TRON crossing 392 million accounts highlights its growing user base and network activity, especially for fast, low-cost Tether transfers.
    • What happened to New Hampshire’s Bitcoin bond proposal? The New Hampshire Executive Council rejected a proposal to authorize $100 million in Bitcoin-backed bonds, halting the initiative.
    • When will Zcash activate Ironwood? Zcash plans to activate Ironwood at block height 3,428,143 on July 28, delayed one week to allow more preparation time for ecosystem participants.