Zcash (ZEC) has almost recovered 37% since the developers distributed this Ironwood (NU6.3) upgrade The privacy-focused cryptocurrency moved to the testnet earlier this month, outperforming most of its peers ahead of the protocol’s next major network upgrade.
The upgrade also marks the beginning of the end for zcashd, as the community prepares for Ironwood’s mainnet activation. This is the long-standing reference node of the network, making this one of the most important transitions in Zcash history.
Ironwood aims to strengthen confidence in Zcash supply
Zcash Open Development Lab has deployed the Ironwood (NU6.3) upgrade to the testnet July 2activation is tracked 4th of July. This milestone serves as the final testing phase before the planned mainnet launch later this month.
Ironwood was introduced after an announcement Orchard protocol vulnerability In June. While developers said there was no evidence of abuse or that user funds were at risk, the flaw highlighted a limitation in proving the integrity of Zcash’s protected supply.
To solve this problem, Ironwood is introducing a new sandbox as well as a “turnstile” mechanism that allows the network to verify the amount of ZEC passed to the new pool without compromising transaction confidentiality.
The upgrade is designed to strengthen trust in Zcash’s circulating supply while preserving the privacy guarantees that distinguish the network from other cryptocurrencies.
Old zcashd node is being deprecated
Ironwood also marks a major infrastructure change for the ecosystem.
long standing zcashd reference The app will not support NU6.3. The network is being phased out as Zebra transitions to a Rust-based architecture built around Zaino and Zallet.
Developers have urged node operators to migrate before Ironwood is activated on the mainnet, as legacy zcashd nodes approach automatic end-of-life. It will no longer join the upgraded network.
The transition represents one of the biggest architectural changes since the launch of Zcash. It replaces the software that has been the basis of blockchain for years.
ZEC price prediction: Bulls pause after 37% advance
At the time of writing, ZEC made an exchange $546roughly up 37.4% From the lowest levels in early July.
The rise has since slowed into a period of consolidation, with buyers trying to build support after reaching recent highs.
Daily RSI was around 58This suggests that the bullish momentum remains intact, without entering the overbought territory. This suggests that buyers still have a modest advantage. However, the strong upward momentum seen at the beginning of the month has begun to wane.
Immediate resistance lies around $560where recent developments have stalled time and time again.
A decisive break above this level could pave the way for another attempt. $600A price zone that served as resistance earlier this year.
On the downside, $500 The region emerged as the first meaningful support. Holding above this level will preserve the current high-low structure. At the same time, a break below this level could trigger a deeper pullback before buyers attempt another advance.
Final Summary
- Zcash’s Ironwood upgrade has entered its final testing phase, introducing a new sandbox while paving the way for the retirement of the old zcashd node.
- ZEC has gained around 37% since Ironwood entered the testnet and the bulls are currently trying to break above the $560 resistance for the $600 target.
