🚨 ZCASH CRASHES BELOW $1,000! A BRUTAL WIPEOUT IN JUST 24 HOURS!
$ZEC has suffered a massive sell-off, dropping from around $1,300 to $950 in just ONE DAY. That's nearly a 27% decline, wiping out hundreds of millions in market value.
This is the first time Zcash has fallen below the $1,000 level since September.
What makes this move even worse is the liquidation pressure. Around $35.7 million in leveraged long positions were liquidated in the past 24 hours, accelerating the downward move.
The hotter-than-expected US CPI data added further pressure to an already weak market, while privacy coins also faced heavy selling.
Even Grayscale's $1 million commitment to the Zcash ecosystem couldn't stop the bleeding.
After such an aggressive rally, is this just a healthy correction, or are we witnessing the beginning of a much deeper collapse?
#ZcashFallsBelow$1000ForFirstTimeSinceSeptember .
$ZEC has suffered a massive sell-off, dropping from around $1,300 to $950 in just ONE DAY. That's nearly a 27% decline, wiping out hundreds of millions in market value.
This is the first time Zcash has fallen below the $1,000 level since September.
What makes this move even worse is the liquidation pressure. Around $35.7 million in leveraged long positions were liquidated in the past 24 hours, accelerating the downward move.
The hotter-than-expected US CPI data added further pressure to an already weak market, while privacy coins also faced heavy selling.
Even Grayscale's $1 million commitment to the Zcash ecosystem couldn't stop the bleeding.
After such an aggressive rally, is this just a healthy correction, or are we witnessing the beginning of a much deeper collapse?
#ZcashFallsBelow$1000ForFirstTimeSinceSeptember .
