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ZEC price fluctuates slightly, liquidation is mild, long positions dominate the clearing, and the community focuses on privacy potential

On December 17, Zcash (ZEC) performed relatively steadily amid adjustments in the crypto market. According to CoinGlass and CoinMarketCap data, the ZEC price over the past 24 hours was approximately $393-$404, with a decline of about 2.44%-3.67%, dipping to around $380 at its lowest and peaking at $410. The 24-hour trading volume was strong, with spot transactions around $300-$400 million and derivatives reaching up to $2.8-$3.7 billion, totaling over $3 billion, placing liquidity among the top of privacy coins. The market capitalization is about $6.5 billion, ranking in the top 20.

In terms of liquidation, the total ZEC liquidation across the network is approximately $4.46 million, with long positions liquidated at $2.91 million and short positions at $1.54 million, indicating a higher proportion of bulls, reflecting the market's short-term bullish expectations for privacy coins facing adjustments. Major platforms Binance, MEXC, and OKX were active in liquidation, but the overall scale was mild and did not trigger a large-scale chain reaction. Opening interest is around $786 million, with the long-short ratio showing divergence.

This slight pullback is influenced by the overall Bitcoin market, with ZEC, as a privacy coin high beta asset, following the fluctuations. However, fundamental highlights are frequent: the usage rate of shielded addresses has reached record levels, Grayscale's ZEC trust proposal for ETF conversion is continuing to ferment, and institutional interest remains strong. The community believes that extreme fear may be an opportunity for accumulation, and if the support at $380 holds, a rebound could test $420-$450. Looking long-term, rising privacy demand in 2025 and network upgrades may drive ZEC back to high levels.

Binance Square users 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 present significant potential despite its volatility, suggesting rational holding and diversified investment. In 2026, with clearer regulations, new opportunities may arise!
#巨鲸动向