Zcash Tumbles 14.36% as Excessive Leverage Triggers Sharp Correction

Zcash [ZEC] recently plummeted by 14.36% over 24 hours, erasing part of its recent gains after a rapid price uptrend.

This sharp correction reflects a notable shift from the strength that had pushed ZEC toward new highs at $1,300.

The decline was largely due to excessive speculative activity and leverage. Open Interest hit $1.35 billion, leaving bulls exposed once the price retreated from its highs.

Two leveraged ZEC longs were fully liquidated as the token pushed lower, with combined losses totaling around $4.33 million. Forced selling likely amplified ZEC's price correction, triggering further liquidations due to existing supply pressure.