Zcash Sheds $11.95 Million in Liquidations Over One Hour

Zcash (ZEC) saw $11.95 million in liquidations during the hour through 2:46 p.m. ET (18:46 UTC) on Oct. 2, with long positions making up nearly all of the total. The figures cover public liquidation data collected and combined across Binance, Bybit and OKX, rather than the entire market.

Long positions accounted for $11.94 million in liquidations, compared with $10,000 in short positions. Liquidations occur when an exchange closes a trader’s leveraged position after it no longer meets the required margin.

ZEC fell from $1,366 to $1,298 over the same hour, a 5.01% decrease. The supplied figures do not establish what caused the price move or liquidations.