In the ZEC early-session rally, it’s all the shorts getting wiped out.
In the past four hours, ZEC across the entire network liquidated $16.19 million. $15.98 million was shorts, accounting for 98.7%, while the longs basically didn’t take much damage. Based on the amount cleared from shorts, ZEC ranks first in the market for these four hours; Ethereum and Bitcoin are both behind.
The fiercest wave was around just before 7 a.m. Current price is 1610; in the past 24 hours it’s up a little over 9%. Binance and OKX are basically the same. The high touched 1653, the low was 1445, a spread of 14% between high and low.
The largest single order was on Hyperliquid: 488 ZEC short contracts, with $1,607 liquidated. One single trade was $785,000. In this four-hour period, it was 4.86 million to the upside; the longs had no single large liquidation. On Binance: 5.02 million, and 99%+ were shorts.
More eye-catching is the positioning: the entire network’s ZEC futures open interest is 2.98 billion USD. The shorts have been liquidated like this—yet the open interest rose by 12.2% in a single day. New money is still pouring in.
$ZEC $BTC
Did you chase this move this morning, or did the short positions get hammered?
Check in real time: https://www.coinboss.com/liquidations/ZEC