Investigators linked activity across seven blockchains and 530 addresses while Zcash's shielded transfers concealed sender, amount and recipient details.
The 24-hour decline was 1.61%. Long liquidations exceeded short liquidations across three exchanges during the hour.
Zcash (ZEC) rose 2% Wednesday, extending Tuesday's 4% advance and recovering much of the ground lost during Monday's sell-off. The privacy-focused cryptocurrency traded around $1,264 as buyers challenged nearby technical resistance. However, persistent withdrawals from Grayscale's Zcash-focused fund continue to weigh on the demand picture. The recovery has improved short-term momentum, but ZEC still needs to clear its moving-average resistance zone and Monday's peak to establish a stronger bullish outlook. Grayscale's ZCSH records further redemptions Grayscale's ZCSH fund posted $5.19 million in net outflows Tuesday, according to SoSoValue data. The withdrawals followed $1.66 million on Monday and $30.72 million across the previous week. Together, the first two sessions of this week produced $6.85 million in net redemptions.
Zcash was down 0.85% over 24 hours at 3:24 p.m. ET, while short liquidations reached $650,000 across three exchanges.
The token fell 6.91% over 24 hours, while long liquidations reached $280,000 across three major exchanges.
Zcash drops over 8% in a day and trades 26% below its $1,653 September peak. ZEC faces liquidations ahead of the NU7 upgrade.
STX is the only notable gainer over the past 24 hours.
ZEC traded at $1,214 at 12:39 a.m. ET (04:39 UTC) on Oct. 13, while remaining down 8.11% over 24 hours.
ZEC reached $1,175 at 9:34 p.m. ET on Oct. 12, after trading at $1,143 one hour earlier.
ZEC was down 11.56% over 24 hours as long liquidations reached $2.66 million across three exchanges.
Zcash fell 9.36% over 24 hours as one-hour long liquidations reached $5.07 million across three major exchanges.
ZEC was down 4.29% over 24 hours at 5:49 p.m. ET Monday, based on directly collected spot-market data.