Zcash bets turn into second-largest liquidations behind bitcoin as ZEC rockets 30%

The privacy coin extended its multi-month rally on Tuesday with $46.7 million in shorts liquidated, after Multicoin Capital disclosed a significant ZEC position. What to know : Zcash surged nearly 30 percent to $543 on Tuesday, extending its 30-day gain to more than 110 percent and triggering about $62 million in futures liquidations, mostly from short sellers. The rally followed Multicoin Capital’s disclosure that it has been accumulating a large Zcash position, arguing that ZEC’s shielded transactions offer protection against growing government efforts to scrutinize and tax visible crypto holdings. Roughly 30 percent of ZEC’s supply now sits in shielded addresses, a record level that analysts say aligns this price move more with real adoption than with past, more speculative rallies, even as the token remains below its late-2025 high near $750.(Coindesk)