Zcash Drops 3.3% in One Hour to $1,198 as Long Liquidations Reach $3.33M

Zcash (ZEC) fell 3.30% in one hour to $1,198 at 5:49 p.m. ET Oct. 12 (21:49 UTC), extending its 24-hour decline to 4.29%.\n\nThe move took ZEC from $1,239 one hour earlier to $1,198. The figures come from spot-market prices collected directly from exchanges, using Binance’s ZEC/USDT market as the price reference.\n\nLong liquidations across Binance, Bybit and OKX totaled $3.33 million during the same hour, while short liquidations reached $20,000. Long liquidations occur when leveraged bullish positions are forcibly closed after prices fall.\n\nZcash ranked 10th by market capitalization at approximately $21.02909 billion at the time of the measurement.