ZEC drops 10.72% over 24 hours as significant short positions are liquidated and trading volume increases

As of NOV 17 2025,

experienced a 10.72% decline over the past day, settling at $631.3. Over the last week, ZEC climbed by 23.62%, saw a 54.26% gain in the past month, and has soared 1009.26% over the previous year.

ZEC Short Sellers Take Heavy Losses as Price Spikes

Zcash (ZEC) remains a focal point in the cryptocurrency sector as its price swings have led to substantial losses for those betting against it. On November 17, ZEC surpassed $700, resulting in partial liquidations of major short positions. A prominent trader and gambler, linked to Roobet and Stake.com, incurred losses exceeding $3.28 million due to the price rally.

LookOnChain’s on-chain data shows that the address (0x7B7...734E) currently possesses 73 BTC worth $122.5 million, with a liquidation threshold at $95,764. The same address also holds 34 ZEC valued at $16.75 million, along with 5.6 million

worth $12.5 million. The ZEC holding faces liquidation if the price hits $757.

Hyperliquid’s Largest ZEC Short Sees Over $21 Million in Unrealized Losses

The biggest ZEC short on Hyperliquid is also under significant stress. The short, tied to address (0xd47), has accumulated an unrealized loss of $21.75 million, equating to a 245% loss from its original position. The position has expanded from $29.26 million to $43.20 million, with floating losses rising by about $7 million in just one week.

This trade began on October 10 at roughly $184 and has been increased several times since. The average entry price now stands at $360, with a liquidation point at $1111. The account’s total notional value is $74.35 million, and on-chain observers are closely tracking this address for any further changes or forced liquidations.

ZEC Becomes Third-Largest Altcoin by Trading Volume

Zcash’s trading activity has surged, making it one of the top three altcoins by volume. On November 17, ZEC posted a 24-hour trading volume of $4.38 billion, ranking behind only

($35.48 billion) and ($5.29 billion). ZEC is currently priced at $692.37, up 217% over the last month, with a market capitalization of $11.3 billion.

The heightened attention toward ZEC is largely due to increasing demand for privacy-oriented cryptocurrencies. Experts point to Zcash’s use of shielded transactions and zero-knowledge proofs as key factors behind its adoption. According to Delphi Digital, ZEC has led growth in the privacy coin segment, outpacing rivals such as TORN.

Institutional and Retail Investors Back ZEC’s Future

Both large-scale and individual investors are showing optimism about ZEC’s prospects. Arthur Hayes, co-founder of BitMEX, has made ZEC the second-largest liquid asset in his portfolio after

. Hayes has publicly claimed that ZEC is stronger than XRP and may eventually overtake it in market capitalization.

Furthermore, Zcash’s recent breakout from a long-term wedge formation has caught the eye of technical analysts. Eric Van Tassel noted that ZEC has surged 555% since this breakout, experiencing several pullbacks of 20–43% over the past 36 days.

ZEC’s Rally Raises Concerns of Overbought Market and Potential Correction

Despite the strong

, analysts warn that ZEC’s rapid ascent could result in a price correction. Technical indicators suggest the coin is currently overbought, and historical trends indicate that ZEC often undergoes sharp declines after major rallies.

The debate between ZEC enthusiasts and Bitcoin supporters has grown more heated, with some speculating that the rally is orchestrated due to its speed and volatility. On the other hand,

proponents maintain that the surge is fueled by genuine demand for privacy features and increasing institutional involvement.

With the upcoming Zcash halving and more wallet integrations on the way, market participants are watching closely to see if the current uptrend can be sustained.