Zcash bets turn into second-largest liquidations behind bitcoin as ZEC rockets 30%
CoinDesk
ZEC surged 30%, triggering massive short liquidations after Multicoin Capital disclosed a significant position in the privacy-focused cryptocurrency.Summary
Zcash (ZEC) experienced a 30% price surge, reaching $543 and driving $62 million in liquidations, predominantly impacting short positions. This market movement followed Multicoin Capital's disclosure of a significant investment in the asset. The fund's partner, Tushar Jain, highlighted ZEC's utility for privacy, arguing that its zero-knowledge shielded pools protect against potential wealth seizures, contrasting it with the transparency of the Bitcoin blockchain. Growing adoption is evidenced by a record amount of ZEC moving into shielded addresses, with the token up over 1,400% year-to-date.
(Source：CoinDesk)