Zcash Prices Plummet by Over 10% Amid Leverage Collapse

Zcash has seen a sharp correction in value after a collapse of leverage. In the past 24 hours, the price of ZEC plummeted by over 10%, with the cryptocurrency currently trading at $1,182.83.

The correction is also reflected in the open positions on the market, which have dropped to $2.11 billion from a high of $27.6 million in unsettled trades. Despite the significant decline, ZEC still holds a weekly gain of around 15% from its peak at nearly $1,300 on September 9.

The current price range is between $1,050 and $1,100 dollars, with market participants closely watching whether there will be further consolidation or a reversal in trend.