ZBCN fell nearly 16.5% today on Oct. 17, to $0.00367, as traders took profits following its Oct. 15 listing on Kraken. The token had surged 21.6% in the week before the listing, peaking at $0.00528, but momentum faded once the listing went live. It seems like whales who accumulated ZBCN sold shortly after they occur to secure gains.
Zebec Network is a blockchain platform built to make real-time payments and payroll streaming possible using digital currencies. Moreover, it aims to connect traditional finance with blockchain by allowing users and businesses to send, receive, and manage funds instantly.
Its native token, ZBCN, powers the entire ecosystem. It is used for governance, staking, transaction fees and rewarding users who help the network grow.
Profit-Taking After a Strong Run
ZBCN’s pre-listing rally was driven by expectations that a new exchange listing would boost liquidity and visibility. However, once the event passed, short-term traders locked in profits amid broader weakness in the crypto market.
Futures data supports the same trend visible on ZBCN’s price chart. According to Coinglass, open interest in Zebec Network futures has dropped to $5.91 million as of Oct. 17, down from peaks above $30 million in early June.
This decline shows that speculative activity around ZBCN has eased sharply in recent months.
While high open interest can signal strong trader participation, it can also amplify volatility during profit-taking events like the one following the Kraken listing.
The reduced leverage exposure suggests that most traders are waiting for clearer signals before re-entering the market.
ZBCN Testing a Crucial Support
At the time of writing, ZBCN trades near $0.0036, aligning with its 200-day exponential moving average (EMA) — a key support level that could determine whether the token stabilizes or continues to fall.
ZBCN’s daily chart shows a sideways range between $0.0036 and $0.0050 that has been intact since mid-September. The token is now testing the lower boundary of that range, coinciding with the 200-day EMA ($0.00356) — a major technical support.
The RSI (Relative Strength Index) is at 42, signaling weak momentum but not an oversold condition.
If the price closes below $0.0036, the next key support lies near $0.0034, which could act as a cushion if selling continues.
However, if buyers defend the current level and push the price above $0.0043–$0.0045, ZBCN price could recover toward $0.0050, where the next major resistance sits.
Regulatory Uncertainty and Sector Rotation
ZBCN’s earlier momentum was supported by the SEC’s October 1 “no-action” letter for DePIN tokens, which temporarily reduced regulatory pressure on the sector. However, that optimism faded after the U.S. government shutdown delayed multiple crypto ETF decisions, creating uncertainty and slowing investor activity.
As a result, the DePIN sector’s 3% October rally lost steam, with traders shifting capital into Bitcoin, which now holds 59.2% market dominance.
The correction also aligns with a broad selloff across the DePIN sector. Leading tokens such as Render (RENDER), Filecoin (FIL), and Theta Network (THETA) dropped between 11% and 15% in the past 24 hours, while Helium (HNT) and Aethir (ATH) fell more than 15%.
