ZEC Token Slides 3.96% as Bearish Sentiment and Short Positions Surge on Binance

ZECUSDT experienced a 3.96% decline in the past 24 hours, with the current Binance price at 479.25 USDT. The decrease is primarily attributed to a shift in market sentiment, including increased sell-side activity in futures markets, a reduction in open interest, and declining user demand. The rise in short positions to over 52% and confirmation of a bearish SuperTrend signal have contributed to the downward pressure, while futures funding rates turned positive, indicating some traders are transitioning from short to long positions. Daily trading volume has decreased, reflecting reduced market activity. ZECUSDT market capitalization is approximately $7.89 billion, with a 24-hour volume of 134.84 million USDT and the price fluctuating between 464.41 and 500.63 USDT during the period. No protocol updates or major events were reported in the past week.