Zcash Surges Over 17% Amid Significant Liquidations in Crypto Market
- Zcash rose more than 17% to nearly $1,358 as of Thursday morning.
- Solana and Hyperliquid each increased by about 3%, while BNB, dogecoin, and ether were up roughly 2%.
- Bitcoin climbed by approximately 1% to just above $76,400, with XRP showing similar movement.
- A total of $345 million in liquidations occurred over a single day, affecting about 86,816 traders.
- The largest liquidation was an $18 million position in Bitcoin closed on Hyperliquid.
The Federal Reserve raised its target range by a quarter point to between375 and400 basis points, which had been anticipated by markets at a rate of roughly69%. This context contributed to the significant liquidation events seen across the crypto market.
Zcash’s impressive rise coincided with $56 million in liquidations from its market capitalization of $23 billion, highlighting the volatility in current trading conditions. Source
