Crypto
Zcash Price Shatters $1,500 Barrier as Short Sellers Reel from Heavy Losses
Despite previous bearish signals and signs of a potential pullback, Zcash (ZEC) price has defied expectations and surged past $1500 for the first time in history.
The bullish onslaught continues, with open interest clocking in at a new high of $3.47 billion.
A popular trader who held an $18.3 million short position was among those who took on massive losses, wiping out almost all of their previous winnings.
Grayscale's 3:1 split of the Zcash ETF shares, which started trading on the NYSE Arca on August 25, has also contributed to the surge in demand and price appreciation.