Zcash surges 20% past $1,000, triggering $34M in short liquidations

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Privacy-focused cryptocurrency Zcash (ZEC) briefly surged past $1,020, marking a significant price milestone. The sharp rally represented a roughly 20% gain, catching bearish traders off guard. Traders who had taken leveraged short positions against ZEC were forced to exit those bets as prices climbed. The resulting liquidations amounted to approximately $34 million in losses for short sellers.

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