ZEC (Zcash) down 18.03% in the last 24 hours

Gate News Bot Message, November 12th, according to CoinMarketCap data, as of press time, ZEC (Zcash) is trading at $467.32, down 18.03% in the past 24 hours. The highest price reached $736.51, and the lowest dropped to $443.03. The 24-hour trading volume is $2.391 billion. The current market capitalization is approximately $7.621 billion, a decrease of about $1.676 billion from yesterday.

Important recent news about ZEC:

1️⃣ Large investors taking profits, market correction pressure increases
The largest long position holder in ZEC has begun reducing their holdings, decreasing from 60,000 to 55,000 coins. This account, which is not in profit, has shrunk from a peak of $12 million to $5.15 million, indicating large investors are starting to take profits. Meanwhile, another whale address bought 12,784 ZEC at a bottom of $509.5 and repurchased between $584.69 and $602.34, reflecting growing market bullishness and bearishness.

2️⃣ Contract market volatility intensifies, liquidation scale significantly increases
The total ZEC contract position on the network hit a record high of 1.7552 million coins, with a market value of $1.088 billion. In the past 24 hours, ZEC contract liquidations reached $18.8 million, second only to BTC, ETH, and AIA, indicating active leverage trading and increased volatility risk.

3️⃣ Ecosystem expansion, cross-chain applications bring new growth points
Zenrock’s wrapped Zcash token, zenZEC, has traded a total of $15 million since launching on the Solana blockchain. Additionally, NEAR Intents supports Zcash wallets like Zashi for cross-chain transactions, with daily trading volume soaring over $200 million. These cross-chain applications present new development opportunities for Zcash and could boost ecosystem activity.

From a technical perspective, ZEC’s price has experienced significant short-term volatility and may face further adjustments. However, fundamentally, Zcash remains solid in the privacy coin space, and the expansion of cross-chain applications offers new growth opportunities. Investors should closely monitor large wallet movements, new fund inflows, and further ecosystem developments.

This message is not investment advice. Please be aware of market volatility risks.