A smart Zcash trader has moved 22,840 ZEC ($23 million) to Binance, apparently for liquidation, on-chain analysts say. The smart trader accumulated the massive sum since 2021, with most of the buying occurring in the first three years.
ZEC has pushed past $1,200, and its largest short seller on Hyperliquid, Garrett Jin, is sitting on a $25.7 million paper loss on a position opened at $444.
The privacy-focused cryptocurrency Zcash experienced a dramatic 20% increase throughout Sunday's trading session, establishing an unprecedented peak of $1,225 before stabilizing around the $1,210 mark. Meanwhile, the wider digital asset market remained relatively unchanged during this timeframe.
Zcash surged past $1,200 to an intraday peak of $1,249, its highest level since Q4 2016, marking a weekly gain of over 45%. Market Cap Reaches $20B as Derivatives Liquidations Spike Zcash (ZEC) breached $1,200 Sunday, outperforming the rest of the cryptocurrency market after posting double-digit gains.
A brand new ZCAT token charges a 3% tax whenever the token moves and uses the proceeds to distribute ZEC to holders, creating an unusual link to one of crypto's hottest assets.
ZEC's rally above $1,200 left a tracked Hyperliquid whale with a reported $25.7 million paper loss on a 32,760-token short.
Zcash (ZEC) has inflicted heavy losses on bearish traders following another leg higher.
Zcash jumps 15% to $1,170 as $45.32M liquidations lead a $212M crypto market shakeout amid leverage.
ZEC's market cap just reached $20 billion, surpassing the likes of HYPE and DOGE.
Zcash's surge highlights the volatility and leverage risks in crypto markets, where rapid price shifts can trigger significant liquidations. Zcash leads $212M in crypto liquidations as price jumps 15%.
Zcash's dramatic rise highlights growing institutional interest in privacy-focused cryptocurrencies, potentially reshaping market dynamics. Zcash surges over 6,300% from 2024 lows as first US spot ETF fuels institutional frenzy.
Rising altcoin open interest signals increased market speculation, potentially leading to volatile price swings and heightened liquidation risks. Altcoin open interest rises as ZEC, BNB, ARB, XRP, and SOL gain momentum.