Thursday, November 5
Zcash targets NU7
Zcash is targeting its NU7 upgrade on Thursday.
$ZEC
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Last Monday, we had a pretty clear idea of what to watch in crypto. Then Binance happened. November 2–8 is another packed week, but I'm more interested in how the market reacts than in the events themselves.
Nothing scheduled
Nothing scheduled
Roughly $6.3 billion was stolen in what became the largest crypto hack on record. And suddenly, everything we had been watching felt a little less important.
According to DefiLlama, roughly $5.8B in net outflows followed the reopening of withdrawals. Meanwhile, Bitcoin ETFs recorded around $643M in outflows on Friday.
The question I'm asking isn't whether Binance can replace the stolen funds. It's whether confidence returns at the same speed.
Liquidity can come back relatively quickly. Trust usually takes longer.
Then there's the token unlock situation. $ENA, $KITE and several others have new supply scheduled this week, but $HYPE is the one I find particularly interesting. The number everyone shares and the number that actually reaches the market can tell very different stories.
Meanwhile, Devcon runs from Tuesday to Friday, and Zcash is targeting its NU7 upgrade on Thursday. While traders are busy reacting to liquidity, politics and short-term supply, developers are still working on infrastructure that might matter years from now.
So I'm entering this week with a fairly simple mindset. Pay attention to where liquidity is going, question the numbers everyone is repeating, and don't confuse a busy calendar with actual market understanding.
The biggest risks rarely announce themselves in advance. Maybe the more useful skill is learning to recognize what changes after they arrive.
Zcash is targeting its NU7 upgrade on Thursday.
About $5.8B in net outflows followed the reopening of withdrawals.
Roughly $6.3 billion was stolen in what became the largest crypto hack on record.
According to DefiLlama, roughly $5.8B in net outflows followed the reopening of withdrawals. Meanwhile, Bitcoin ETFs recorded around $643M in outflows on Friday.
The question isn't whether Binance can replace the stolen funds. It's whether confidence returns at the same speed.
Tuesday's elections could reshape expectations around US crypto regulation.
Devcon runs from Tuesday to Friday.
While traders are busy reacting to liquidity, politics and short-term supply, developers are still working on infrastructure that might matter years from now.
After over $800M in USDC was frozen, how much control should a stablecoin issuer have?
We've spent years talking about stablecoins as the foundation of DeFi.
But after reports of over $800M in USDC being frozen in connection with the Binance exploit, there's a more important conversation to have:
I'm curious whether Circle addresses this alongside its usual revenue and growth metrics.
Zcash is targeting its NU7 upgrade on Thursday.
Could shift the market's expectations for the Fed's next move.
Friday's employment report could shift the market's expectations for the Fed's next move.
And weaker economic data isn't automatically good news for risk assets, even when traders start hoping for easier monetary policy.
Trackers show 9.92M HYPE (~$924M). Hyperliquid Labs indicated closer to 180K.
Some trackers show roughly 9.92M HYPE unlocking on November 6, worth around $924M.
Sounds terrifying, right? Except Hyperliquid Labs indicated that the actual distribution would be closer to 180K tokens.
That's exactly why I don't like treating unlock dashboards as automatic sell-pressure indicators.