Zcash jumps 17% to $1,400, liquidating $1M in shorts
- —ZEC gained 17% and approached $1,400
- —Shorts worth about $1 million were fully liquidated
- —The rally is not tied to Zcash network news — it is a short squeeze
- —Thin liquidity in privacy coins amplified the move
Why it matters: The short squeeze could accelerate ZEC's rise and draw attention to privacy coins, but the move risks being short-lived.
Source: Bitcoin Insider