$0.06 ZAMA — are you betting on the future of the FHE leader, or the market maker’s scythe?

First, look at the surface: high-level consolidation, divergence between bulls and bears.

From the February low of 0.0167, it ran all the way to 0.064 — a gain of nearly 300%. On July 24, the Confidential RFQ went live; the price jumped that day, but then it surged and faded, and is now repeatedly churning around 0.06. Weekly +46%, monthly +80%, 3-month +110% — the most ferocious kid in the FHE track, without a close second.

But on August 2, 27.95 million tokens unlock, worth $15.11 million. Perpetual contract OI keeps falling, and the funding rate flips from negative to positive — the market is starting to crowd up on longs.

First thing: Confidential RFQ — it might be bigger than you think.

On July 24, Zama officially launched Confidential RFQ, a confidential inquiry protocol based on fully homomorphic encryption. On-chain large transfers finally got a “dark pool.”

Now, with sealed bidding, the transaction size, buy/sell direction, and asset types are all encrypted — before the counterparty submits a quote, nothing can be seen.

Second thing: tokenomics — both the ace and the soft underbelly.

ZAMA’s mechanism is pretty seductive: 100% of fees are burned, while operators rely on issuance rewards. Circulating supply is 2.2B, total supply is 11B, and the circulating ratio is only 20% — FDV is 5 times the market cap.

The upside: as long as more people use the network, the burn speed can stay fast enough for the deflationary model to work. Currently, 34% of the circulating supply is already staked, suggesting holders are willing to lock up.

The downside: on August 2, 27.95 million tokens unlock, worth $15.11 million. Even though it’s just a bit over 1% of total circulating supply, at these highs, any sell pressure could trigger a stampede.

Third thing: a technical signal you must watch closely appears.

Price is rising, but capital in the derivatives market is pulling back. This isn’t a trend-reversal signal — it’s de-leveraging in a phase. Worse, the funding rate has turned from negative to positive: longs start paying shorts, and the market gets crowded.

On the daily chart, 0.064 is the ATH (all-time high) — it hasn’t been broken through even after three attempts.

Bulls vs. bears — you decide.

One side says:

Confidential RFQ just launched, and the FHE leader narrative is hot

34% of circulating supply is already staked, and holders are hoarding

Weekly +46%, monthly +80% — the trend is clearly bullish

Privacy compute is a core narrative for 2026, and Zama is the “shovel seller” role

The other side says:

27.95 million tokens unlock on August 2, worth $15.11 million

OI keeps declining, funding rate turns positive, and longs crowd in

0.064 has failed three times — ATH pressure is huge

FDV is 5 times market cap, and dilution pressure is a long-term risk

Key levels

Resistance overhead: 0.062-0.064 (ATH) → 0.07-0.08 (sentiment extension)

Support below: 0.05-0.055 (recent pullback zone) → 0.045 (stronger psychological level)

For short-term traders:

Wait for a pullback to 0.05-0.055 to stabilize, then try a small long position with a tight stop at 0.048. First target: 0.062-0.064.

For swing traders:

Wait for a high-volume, valid breakout above 0.064 before chasing on the right side. Target: 0.07-0.08. If it breaks below 0.05 around August 2 with volume, exit unconditionally and stand aside.

For long-term gamblers:

DCA in batches below 0.05 — you’re betting on the long-term narrative that “FHE becomes standard in blockchains.” But remember: only use spare money; if it goes to zero, don’t cry.

ZAMA right now is like SOL in 2021 —

99% of people think, “yet another pump-and-dump asset,” and it went from 2 bucks to 200 bucks.

But at 0.06, is this the start of the next SOL — or just another “public offering breaks below issue price” pit?

The answer isn’t in the candlesticks; it’s in the order book around August 2. #直通IPO第二期JerseyMikes #夏日创作营 #Gate事件合约首发狂欢 $BTC $ETH $ZAMA