The rise in Zcash and Hyperliquid continues: ZEC exceeded $ 1200

Two altcoins, Zcash and Hyperliquid, which have recently turned upward, continued to gain value over the weekend. While HYPE made ATH by exceeding $ 89 yesterday, Zcash continues its upward movement strongly, which it started at this time last year, a year later.

The record of 10 years is being broken

As it is known, Zcash exceeded 3 thousand dollars in its parabolic rally in 2016, but then experienced a sharp decline and showed almost no "signs of life" for 9 years until September last year.

Left HYPE behind and finished 9th

However, the privacy-focused money, which started a great rally starting from 20 dollars in September last year, has now reached 1200 dollars today. Zcash, which managed to become the 9th largest cryptocurrency by passing HYPE yesterday, started to regain the levels it last saw in 2016. Zcash exceeded $1200 yesterday for the first time since 2016.

Open positions are also increasing

Zcash's rise has been so steep that today it is still trading at more than 2 times the 200-day moving average. This altcoin's 200-day moving average is still at $450. The open position value in Zcash reached up to 2.4 billion dollars on Friday. Today, this figure has increased to 2.6 billion dollars... In other words, the value of the leveraged position opened for ZEC continues to increase.

It appears that a total of $24 million in leveraged positions in Zcash have been liquidated in the last 24 hours, which is quite high for an altcoin. Short positions constitute $17 million of these positions.

Zcash was trading at $1800 at the time the news was written.