ZEC price fluctuates slightly, liquidations are moderate, and long positions dominate as the community focuses on privacy potential
On December 17, Zcash (ZEC) performed relatively steadily amid adjustments in the cryptocurrency market. According to data from CoinGlass and CoinMarketCap, the ZEC price over the past 24 hours ranged from approximately $393 to $404, with a decline of about 2.44%-3.67%. The price hit a low near $380 and peaked at $410. The 24-hour trading volume is strong, with spot trading around $300-$400 million and derivatives reaching as high as $2.8-$3.7 billion, totaling over $3 billion, with liquidity ranking among the top for privacy coins. The market capitalization is approximately $6.5 billion, ranking in the top 20.
In terms of liquidations, the total liquidation amount for ZEC across the network is approximately $4.46 million, with long positions liquidated at $2.91 million and short positions at $1.54 million. The higher proportion of long positions reflects the market's short-term bullish expectations for privacy coins encountering adjustment impacts. Major platforms Binance, MEXC, and OKX are active in liquidations, but the overall scale is moderate and has not triggered a large-scale chain reaction. Opening interest is approximately $786 million, and the long-short ratio shows divergence.
This slight pullback is influenced by the overall Bitcoin market. As a high beta asset, ZEC, being a privacy coin, follows the fluctuations. However, there are frequent fundamental highlights: the usage rate of shielded addresses has reached a record high, the Grayscale ZEC Trust's proposal for conversion to ETF continues to develop, and institutional interest remains strong. The community believes that the extreme fear zone may be an accumulation opportunity; if the support at $380 holds, a rebound could test $420-$450. Looking long-term, the increase in privacy demand in 2025 alongside network upgrades may drive ZEC back to higher levels.
Users on Binance Square are actively discussing leverage risks and bottom-fishing strategies, with many posts reminding to control positions and pay attention to funding rates. ZEC's unique privacy attributes mean it has significant potential despite large fluctuations; rational holding and diversified investment are recommended. With clearer regulations in 2026, new opportunities may $ZEC
