ZEC: Summary of discussions in the CoinAnk Chinese discussion group (22:00:09 ~ 23:00:09)

[Analysis Material Extraction] The ZEC spot price is $237.26, and the contract price is $237.22. The price fell 0.62% in the past hour and rose 0.42% in the past four hours. Short-term market fluctuations are relatively limited. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] The total 24-hour trading volume of ZEC reached $844 million, indicating relatively active trading and ample liquidity. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] The total ZEC open interest across the network is $264 million. Open interest decreased by 0.97% in the past hour and increased by 5.28% in the past 24 hours, indicating that some funds are repositioning after reducing their holdings in the short term. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] The ZEC long/short ratio is 0.9286, with slightly more short positions than long positions, indicating a cautious or wait-and-see attitude in the short term. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] ZEC has a market capitalization of $3.924 billion and a circulating supply of approximately 16.5 million. As an important asset in the Layer-1 and RWA sectors, it has considerable market attention and investment value. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] The current ZEC funding rate is 0.0049%, indicating a relatively balanced cost basis for both long and short positions in the contract market, with no obvious bullish or bearish suppression. [src: @CoinAnk Chinese Discussion Group, 2026-02-12 22:04:26/#2160311; ref: window] 【Key Clues Summary】 1. ZEC price fluctuations are limited in the short term, with a slight decline in the 1-hour timeframe and a slight increase in the 4-hour timeframe. 2. Active capital flow, with a 24-hour trading volume of $844 million. 3. Significant fluctuations in open interest, indicating signs of short-term position reduction and repositioning. 4. The long/short position ratio leans towards the short side, suggesting a cautious market sentiment. 5. Low contract funding rate indicates a relatively balanced balance between bullish and bearish forces. 6. As a Layer-1 and RWA asset, ZEC maintains a high market capitalization and circulating supply.