Zcash falls 8.5% as $19.9 million in positions liquidated before NU7 upgrade

Zcash (ZEC) experienced a sharp 8.5% decline during a volatile Monday trading session, compounding losses that have left the privacy-focused cryptocurrency trading approximately 26% below its September high. After closing at $1,653.12 on September 26, ZEC slipped to around $1,167 on Monday and partially recovered to $1,215 by October 13, yet remains far from recent peak levels. The latest downturn came amid widespread weakness in digital assets, triggered by Bitcoin ‘s drop toward $81,000 and cautious positioning by traders ahead of new U.S. inflation data.

Source: CoinTurk News