ZEC (Zcash) fell 11.83% in the last 24 hours.

Gate News Bot news, on November 18, according to CoinMarketCap data, as of the time of writing, ZEC (Zcash) is currently priced at 618.95 USD, falling 11.83% in the last 24 hours, with a high of 735.77 USD and a low of 426.83 USD. The 24-hour volume reached 2.186 billion USD. The current market capitalization is approximately 10.099 billion USD, a decrease of nearly 1.355 billion USD compared to yesterday.

Important news about ZEC recently:

1️⃣ Large investors take profits, market under pressure falls The largest ZEC long position holder has initiated a reduction in holdings, decreasing the position from 60,000 coins to 55,000 coins. The account's unrealized profit has shrunk from a peak of $12 million to $5.15 million, indicating that large investors are starting to take profits. At the same time, another whale address bought back 12,784 ZEC after bottoming out at $509.5, reflecting an intensification of market divergence between bulls and bears in the $584.69-$602.34 range.

2️⃣ Contract market volatility intensifies, leverage trading risks increase The total open interest of ZEC contracts across the network has reached a historical high of 1.7552 million coins, with a market capitalization of 108.8 million USD. In the past 24 hours, ZEC contracts have seen liquidations of 18.8 million USD, second only to BTC, ETH, and AIA, reflecting a significant increase in market leverage trading activity and heightened volatility risks.

3️⃣ Institutional investors continue to position themselves, optimistic about the long-term development of ZEC Leap Therapeutics, a publicly traded company on the US stock market, has changed its name to Cypherpunk Technologies Inc and is transforming into a ZEC cryptocurrency treasury company. The company purchased 203,775.27 ZEC at an average price of $245, with a total investment of approximately $50 million, while also completing a $58.88 million private placement financing. The large-scale entry of institutional investors provides long-term support for ZEC.

From a technical perspective, the price of ZEC has experienced significant fluctuations in the short term and may face further adjustments. However, on the fundamental side, Zcash's position in the privacy coin sector remains solid, and the ongoing investments from institutional investors reflect confidence in its long-term development. Investors should closely monitor the movements of large holding addresses, changes in the contract market, and the subsequent actions of institutional investors.

This message is not intended as investment advice; investors should be aware of market volatility risks.