Conclusion first: in the past 24 hours, ZEC liquidated $18.09M, with 79% coming from long positions; the chasing-long positions were cleared first.
Long liquidations totaled $14.27M, while shorts were only $3.81M—nearly a 3.7x gap in direction. The largest two trades were on OKX, clearing long positions of $759k and $714k respectively. The positions that chased in after ZEC spiked are the ones that hurt most.
This round isn’t just retail getting hit: total open interest across the whole network is still about $2.64B, basically unchanged, but Binance’s positions increased by 6.9% in a day while Hyperliquid’s fell by 8.9%. Adding here and withdrawing there—platforms’ bets have already diverged.
Do you think this wave of ZEC liquidations has finished wiping out the longs?
View in real time: https://www.coinboss.com/liquidations