Zcash (ZEC) fell 2.62% to $1,128 on Binance Saturday, Oct. 17, while forced position closures across three exchanges reached $940,000 in total during the hour.
The Binance spot ZEC/Tether (USDT) market showed $1,128 at 5:30 p.m. ET (21:30 UTC). An hour earlier, the exchange's quote was $1,159, a $31 difference. Over 24 hours, ZEC was down 1.15%, covering a longer period than the hourly move.
The three exchanges recorded $940,000 in liquidations over the hour: $840,000 from long positions and $100,000 from short positions. A long position benefits from price gains; liquidation closes a trade a trader can no longer sustain.
A Binance quote in an earlier EconoTimes update showed ZEC at $1,162 at 5:05 p.m. ET (21:05 UTC), 25 minutes before the later reading.
