ZEC Long Positions Face Liquidation as Recent Buyers Come Under Pressure

ZEC saw a short-term pullback on September 11, putting pressure on long positions opened by recent momentum buyers. According to BlockBeats On-chain Detection, a whale address beginning with 0xd745 had its 2,859.7 ZEC long position fully liquidated in about three seconds early today, with liquidation proceeds of about $3.25 million and a loss of about $190,900. In addition to that address, wallets beginning with 0x1183 and 0xc46 were also liquidated, with each single liquidation exceeding $1.5 million. All three positions were built at elevated levels during ZEC's rise over the past two days. Before the liquidation, the 0xd745 address continued to add to its long position. From 20:47 last night to 00:08 today, it added 1,622.8 ZEC, worth about $1.9 million, increasing its holdings from 1,236.87 ZEC to 2,859.76 ZEC and lifting its average entry price to about $1,203.23. The final increase came near $1,155, but about 10 minutes later, as prices fell, the entire ZEC long position was forcibly closed by the system at an average liquidation price of about $1,136.47. The address later shifted to BTC and reopened a BTC long position worth about $5.99 million this morning. As of press time, the position showed an unrealized loss of about $14,900, with an estimated liquidation price of $76,096.