Zcash jumps 17% as $345 million of liquidations hit crypto traders

Zcash surged more than 17% to around $1,358 in Asian morning trading, outpacing all major cryptocurrencies.

Market reaction to the Fed rate hike

The U.S. Federal Reserve raised its policy rate by a quarter‑point to a range of 3.75%‑4.00%, its first increase of the cycle. Bitcoin rose about 1% to just above $76,400, while most other assets posted modest gains.

Liquidation wave details

CoinGlass reported that 86,816 traders were liquidated over a 24‑hour period, resulting in $345 million of forced closures. Short positions accounted for $208 million of the total, while long positions made up $137 million.

Asset‑specific impacts

• Zcash generated $56 million in liquidations and rose 17%.
• Ether led liquidations at nearly $89 million.
• Bitcoin saw $85 million in liquidations, including an $18 million position closed on Hyperliquid.
• Solana and Hyperliquid each added about 3%.
• BNB, Dogecoin and Ether rose roughly 2%.
• XRP matched Bitcoin’s 1% gain; Tron was flat.

Outlook

Zcash’s market capitalization stands at about $23 billion. Observers will watch whether leveraged positions rebuild after the liquidation surge, as the asset has driven the recent price rally.