CoinMeta data: Zcash ( ZEC ) rose by about 5% on October 12, with trading prices approaching $1,280, mainly driven by the upcoming Nu7 network upgrade. This upgrade is scheduled for November, with the goal of reducing block confirmation time to 25 seconds. Meanwhile, short positions in Zcash faced forced liquidation, leading to a market rebound. ZEC rose by about 4.8% in the past 24 hours, while Bitcoin and Ethereum gained 0.9% and 1.2%, respectively. According to derivatives data, the total amount settled for ZEC was approximately $4.91 million, of which $3.87 million was from short positions, indicating that short contracts accounted for nearly 79% of the settled contracts. In addition, the number of open contracts for Zcash also increased by 4.82%, reaching $2.57 billion, suggesting that traders are increasing their risk exposure.