ZCASH PULLBACK WIPES OUT $28M IN LEVERAGED LONGS

Zcash has seen a sharp correction after its explosive rally, triggering around $28 million in major ZEC long liquidations on Hyperliquid.

One of the largest positions alone — held by trader “Loracle” — was liquidated for roughly $19 million around $567.

The move highlights just how heavily leveraged ZEC trading has become.

Only days earlier, rising ZEC prices were crushing short sellers. Now, the volatility has hit traders on the other side of the market.

With leverage elevated and large liquidation zones on both sides, ZEC volatility remains extremely high.