Zcash Slides More Than 10% in 24 Hours; Long Liquidations Hit Highest Level at $28.74 Million
Summary
- Zcash (ZEC) fell more than 10% over the past 24 hours, making it one of the weakest-performing major altcoins.
- The decline in ZEC appears to have accelerated as profit-taking intensified after the token nearly doubled this month.
- According to CoinGlass, ZEC liquidations totaled $28.7393 million over the past 12 hours, the highest among all cryptocurrencies and exceeding those in Ethereum (ETH) and Bitcoin (BTC).
Forecast Trend Report by Period
Zcash (ZEC) has fallen more than 10% over the past 24 hours, standing out as one of the weakest-performing major altcoins.
BlockBeats reported on Sept. 29 that ZEC dropped as low as $1,356 during the session, pushing its 24-hour decline to 10.7%. It was later trading in the $1,380 to $1,400 range.
The decline appears to have accelerated as profit-taking intensified after ZEC nearly doubled this month. In the futures market, the sharp drop also triggered a chain of liquidations after long positions had built up to elevated levels.
CoinGlass data showed ZEC liquidations totaled $28.7393 million over the past 12 hours, the highest among all cryptocurrencies. Over the same period, liquidations in Ethereum (ETH) and Bitcoin (BTC) were about $15.58 million and $15.08 million, respectively.
