Derive.xyz(@DeriveXYZ):Zcash’s Ironwood upgrade activates tomorrow, July 28 at 13:00 UTC, restoring the ability to independently verify ZEC’s circulating supply. The upgrade could also reveal whether a bug in the private Orchard pool was ever exploited to create counterfeit ZEC. As funds migrate to the new pool, every ZEC leaving Orchard will be counted. If withdrawals exceed total deposits, it would expose a supply discrepancy. On Derive, traders are positioning for volatility: near-term call exposure is concentrated at $625 for July 31, followed by $850, $900 and $1,000 calls in August.

2026.07.27 21:56

Zcash’s Ironwood upgrade activates tomorrow, July 28 at 13:00 UTC, restoring the ability to independently verify ZEC’s circulating supply. The upgrade could also reveal whether a bug in the private Orchard pool was ever exploited to create counterfeit ZEC. As funds migrate to the new pool, every ZEC leaving Orchard will be counted. If withdrawals exceed total deposits, it would expose a supply discrepancy. On Derive, traders are positioning for volatility: near-term call exposure is concentrated at $625 for July 31, followed by $850, $900 and $1,000 calls in August.