Foundry Launches Zcash Mining Pool Capturing 29.2% Hashrate
- Significant Hashrate Share: Foundry Digital's newly launched Zcash mining pool now accounts for approximately 29.2% of the network hashrate, achieved through partnerships with multiple institutional miners, indicating a substantial increase in institutional influence within the Zcash network.
- Block Production Metrics: Since its launch earlier this month, the pool has mined 2,344 blocks, with Zcash blocks produced approximately every 75 seconds and a block reward of 1.25 ZEC (around $458), generating considerable revenue and market interest for Foundry.
- Shifting Market Dynamics: Foundry's rise has led to a decline in ViaBTC's market share from 68.1% on February 27 to about 37%, illustrating how institutional pools are reshaping the mining landscape of Zcash and reducing network centralization risks.
- Industry Attention and Future Outlook: As Zcash has outperformed many peers in the privacy asset space, industry observers will closely watch whether additional institutional players follow Foundry's lead in Zcash mining, potentially driving further diversification in hashrate distribution.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 59745.65 | 63738.83 | 68051.64 | 72044.82 | 76357.63 | 80350.81 | 84663.62 |
| Fibonacci | 63738.83 | 66911.718 | 68871.932 | 72044.82 | 75217.708 | 77177.922 | 80350.81 |
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