[Report by Mexiko correspondent Shim Young-jae: Privacy issues] Digital assets ZEC has fallen below $1000. The rapid decline was triggered by the liquidation of long positions held by leveraged investors (). A large amount of ZEC was also transferred from wallets that had not been active for a long time to exchanges (), increasing concerns about further selling.
CryptoSlate reported on the 12th (local time) that ZEC was traded at around $965 and even dropped to $953 during the session. Market research firm CairousResearch analyzed that massive selling in the derivatives market was the main cause of the decline. At the time of writing, ZEC was trading at $938.28, a 6.91% decrease from the previous day.
In 90 minutes, there were 160,000 ZEC in net sales… Liquidation of long positions rather than forced closures.
According to CairousResearch, on the 10th, a long position of 12,500 ZEC was liquidated in HyperLiquid () in just 2 seconds. Over the next 90 minutes, another 160,000 ZEC were sold on four major derivatives exchanges (@), causing the price to plummet from $1193 to $1001.
The net sales volume by exchange was as follows: Binance (74,000 ZEC), OKX (42,000 ZEC), HyperLiquid (31,000 ZEC), and Bybit (13,000 ZEC). Researchers attributed the decline mainly to investors voluntarily closing their long positions, rather than forced liquidations.
After the sharp drop, 16,300 ZEC were added to Coinbase and 8,600 ZEC to Binance. Of the ZEC transferred to Coinbase, 9,800 ZEC came from three wallets that had not been active for a long time; these wallets still contain approximately 19,000 ZEC. However, the transfer to exchanges does not necessarily indicate actual sales.
$30 million was withdrawn from ETFs… Development activities are ongoing.
En el ETF ZCSH de GraceScale, también se ha producido una salida neta de aproximadamente 30 millones de dólares en los últimos dos semanas. El valor neto de los activos ha disminuido de unos 772 millones de dólares a 562 millones de dólares. No obstante, CairoResearch ha indicado que no hay pruebas de que las ventas de acciones del ETF hayan provocado directamente la caída brusca de los precios del pasado 10 días.
GraceScale ha afirmado que el número de desarrolladores de ZCash se ha duplicado en los últimos dos años, lo que considera una señal positiva para las perspectivas a largo plazo. El 6 de noviembre, ZCash realizó una actualización (NU7) que redujo el intervalo entre la creación de nuevos bloques de 75 segundos a 25 segundos.
No obstante, la salida de fondos del ETF y la posible venta de monedas almacenadas en carteras inactivas podrían suponer una carga para la recuperación a corto plazo de los precios.ZEC
- #Actualización NU7
- #Posiciones largas
- #ZCash
- #ETF ZCash
- TAG119@@#HyperLiquid
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