ZEC Leads $212 Million in Crypto Liquidations as Price Rises 15%

Zcash (ZEC) accounted for the largest share of crypto-market liquidations over the past 24 hours as its price jumped about 15% to around $1,170, according to CoinGlass data cited by @WuBlockchain.

Total crypto liquidations reached about $212 million during the period, with roughly $156 million involving short positions. ZEC recorded about $45.32 million in liquidations, ahead of Ethereum (ETH) at $35.16 million, Bitcoin (BTC) at $16.79 million and Arbitrum (ARB) at $12.94 million.

The figures show how quickly leveraged positioning can be affected during a sharp move higher. Traders holding short positions are forced to close when prices move against them far enough to trigger liquidation thresholds, potentially adding further buying activity during a rapid rally.

ZEC Outpaces Major Crypto Assets in Liquidations

ZEC's $45.32 million in liquidations represented the largest single-asset figure among those tracked in the report. The concentration was notable because the token simultaneously posted a roughly 15% gain over the same 24-hour period.

Ethereum and Bitcoin, which typically command substantial derivatives activity, recorded lower liquidation totals of $35.16 million and $16.79 million, respectively. ARB followed with $12.94 million.

The imbalance between short and long liquidations across the wider market also provides important context. With roughly $156 million of the $212 million total attributed to short liquidations, the data points to significant pressure on bearish positions as prices moved upward.

Leverage Becomes a Key Market Risk

Large liquidation events can amplify short-term volatility because forced position closures occur independently of a trader's original market view. When a price rises rapidly, short sellers may be required to buy back positions, while subsequent traders reassess risk and leverage.

For ZEC, the immediate question is whether the move toward around $1,170 can attract sustained spot and derivatives demand without another sharp increase in leveraged positioning. The next 24-hour liquidation data will offer a clearer view of whether the latest rally is consolidating or continuing to force short positions out of the markets.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.