ZEC forms a local peak near $1,500
Zcash (ZEC) continues to be one of the most notable coins in the market as the price rises to a local high of $1,385, before still holding above the $1,350 region.
Since the beginning of the year, ZEC has increased by about 166%, while 24-hour trading volume surged to roughly $2.59 billion, the highest level since the start of the year.
The upward momentum is supported by the privacy-coin narrative, increased mining activity, and especially derivatives inflows.
In the past 24 hours, around $56.35 million worth of short positions in ZEC were liquidated, triggering a strong short squeeze as the price moved toward $1,400.
ZEC’s Open Interest has also risen to about $2.14 billion, the highest in three years.
On Hyperliquid, nearly 70% of traders are holding long positions, while only about 30% are short. Conversely, on centralized exchanges, this ratio is almost reversed, with around 70% of traders leaning toward short.
One of the most notable positions belongs to trader Garrett Jin, who is currently sitting on an unrealized loss of about $26 million on a ZEC short trade. The liquidation price for this position remains high at around $2,631.
$ZEC
#WriteToEarn
#USSenateBlocksClarityAct
Zcash (ZEC) continues to be one of the most notable coins in the market as the price rises to a local high of $1,385, before still holding above the $1,350 region.
Since the beginning of the year, ZEC has increased by about 166%, while 24-hour trading volume surged to roughly $2.59 billion, the highest level since the start of the year.
The upward momentum is supported by the privacy-coin narrative, increased mining activity, and especially derivatives inflows.
In the past 24 hours, around $56.35 million worth of short positions in ZEC were liquidated, triggering a strong short squeeze as the price moved toward $1,400.
ZEC’s Open Interest has also risen to about $2.14 billion, the highest in three years.
On Hyperliquid, nearly 70% of traders are holding long positions, while only about 30% are short. Conversely, on centralized exchanges, this ratio is almost reversed, with around 70% of traders leaning toward short.
One of the most notable positions belongs to trader Garrett Jin, who is currently sitting on an unrealized loss of about $26 million on a ZEC short trade. The liquidation price for this position remains high at around $2,631.
$ZEC
#WriteToEarn
#USSenateBlocksClarityAct