In the last 24 hours, Zcash ($ZEC) rose by approximately 15%, reaching a mark of $1170, and became the central asset for liquidations in the cryptocurrency market. According to CoinGlass, the total amount of cryptocurrency liquidations over the past 24 hours was approximately $212 million. Of this amount, about $156 million came from the liquidation of short positions.
During this period, $ZEC became the cryptocurrency with the highest amount of liquidations, amounting to approximately $45.32 million. It was followed by Ethereum (ETH) with $35.16 million, Bitcoin ($BTC) with $16.79 million, and Arbitrum (ARB) with $12.94 million. The sharp price change in $ZEC also allowed it to enter the top ten cryptocurrencies by market capitalization.
On the other hand, the rise of $ZEC significantly increased losses on a large short position on Hyperliquid. Garret Bullish, previously known as the "October 10 whale" who had previously liquidated positions worth about $230 million, reportedly held a 2x leveraged short position of 32,759.57 $ZEC, worth approximately $38.18 million. The average opening price of the position was about $444, with a liquidation level of $2566, resulting in an unrealized loss of approximately $23.57 million.
It was also noted that the same large investor held a long position of 1,331.88 $BTC, from which he obtained an unrealized profit of approximately $3.6 million.
*This is not investment advice.
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