Zcash leads $212 million crypto liquidations as price jumps 15% to $1,170

Zcash (ZEC) surged to the forefront of the cryptocurrency derivatives market after a sharp 15% rally pushed its price to approximately $1,170. The rapid advance on September 6 was accompanied by around $212 million in total crypto market liquidations, with ZEC accounting for $45.32 million of that figure—the highest among major tokens during the session.

Liquidation wave hits bearish traders

Liquidation data showed that short positions represented roughly $156 million of the $212 million in closed trades, highlighting the scale of losses faced by bearish traders on the day. Leveraged positions betting against rising prices lost margin support as ZEC and other coins shot higher, forcing exchanges to close out positions at market prices and amplifying upward pressure.

ZEC’s liquidations surpassed those of Ethereum, which posted $35.16 million in forced closures. Bitcoin followed with $16.79 million, while Arbitrum saw $12.93 million liquidated. With over one-fifth of all liquidations, ZEC stood out as the dominant driver of the day’s action.

ZEC recorded $45.32 million in liquidations, topping all major tokens as short sellers absorbed most of the losses during the price surge.

Data indicated that nearly three-quarters of all liquidations came from short sellers, confirming a strong short squeeze. The trend reflected a heavy concentration of bearish bets right before ZEC’s price breakout.