This round of short-squeezes in privacy coins is still drawing people in. Today ZEC has been pulled from $1430 all the way to $1573, a gain of nearly 6%. The shorts were wiped out in a single day, totaling $15.33 million.
The hype is built with real money: just on Binance’s platform alone, ZEC’s 24-hour trading volume hit $2.8 billion—more lively than many other major coins, and all the short-term capital rushed in.
The current price is 1525, down about 3% from the recent high. Those who chased up to 1573 are trapped in losses, while those who shorted at lower levels got liquidated outright. In the past 24 hours, ZEC liquidated a total of $19.9 million. Seventy-seven percent of that went straight to long positions, with 4,183 trades in total.
The funding fees for Monero’s long positions are still burning at an annualized rate of nearly 80%. The crazier the market gets, the tighter leverage needs to be.
How far do you think ZEC can go in this run?
View in real time: https://www.coinboss.com/liquidations