Across Binance, Bybit and OKX, long liquidations on Zcash (ZEC) reached $1.7 million in the hour ending 6:35 p.m. ET Friday (22:35 UTC), when Binance’s ZEC/Tether (USDT) spot pair was at $1,192.
At the 6:35 p.m. reading, Binance’s ZEC/Tether (USDT) pair had dropped 2.81% in an hour from $1,226. ZEC was down 1.66% over the preceding 24 hours. The hourly move was larger in percentage terms, though the two readings cover different periods.
Liquidation figures for Binance, Bybit and OKX showed $1.7 million for long positions and $0 for short positions over the same hour. The liquidation total combines activity on all three exchanges, while the spot quote reflects Binance alone. A long position is held in expectation of a price increase; liquidation closes a position a trader can no longer sustain.
As of 22:52 UTC, ZEC was at $1,166.73, down 3.37% over 24 hours, based on CoinGecko and exchange spot data. An Oct. 19 EconoTimes snapshot of Zcash liquidations recorded $1.61 million in long liquidations and $60,000 in short liquidations during a different hour.
