Zcash Falls 12% as $20 Million in Long Positions Near Liquidation

ZEC dropped 12% to $1,379 before recovering to $1,388.40. Two large long positions face estimated liquidation levels between $1,357.59 and $1,359.45, with roughly $20 million in longs near liquidation. The price slide pressured leveraged traders as the token approached those critical thresholds.