ZEC Price Plummets 2.62% to $1,582 Amidst Hefty Long Liquidations

Zcash (ZEC) experienced a sharp decline in its market price on September 23, falling by 2.62% to $1,582 at 10:24 a.m. ET (14:24 UTC).

This drop was observed on Binance's spot ZEC/USDT market, where the token had traded at $1,625 just one hour prior.

The decline in Zcash's price resulted in significant liquidations across major exchanges like Binance, Bybit, and OKX, with long positions totaling $3.47 million and short liquidations reaching $210,000.