Even though Zcash (ZEC) price rallied more than 100% over the past three months through October 15, 2026, the crypto asset was among the worst hit in the top 100 cryptocurrencies amid a broader sell-off driven by heightened liquidations.
At the time of reporting, Zcash price traded at approximately $1,098, down 8.61% on the day, according to data Finbold obtained from CoinMarketCap.
As a result, Zcash saw its market capitalization shrink to roughly $18.58 billion at the time of writing. Amid increased selling pressure, ZEC’s 24-hour trading volume had surged 17.88% to $1.19 billion at press time.
Notably, ZEC was fourth among the top losers on Thursday, as per metrics from CoinGecko. The leading three crypto losers today, among the top 100 by market cap, were Bitway (BTW), Rain (RAIN), and Pump.fun (PUMP).
Why is Zcash down today?
As Zcash price followed the broader cryptocurrency market in a selloff, catalyzed by the hotter-than-expected inflation data from the United States, it fueled a long squeeze, an accelerated selling pressure fueled by liquidated long positions.
At the time of publication, of the liquidated $19.67 million Zcash positions over the past 24 hours, $16.75 million involved longs compared to $2.91 million in shorts, as per updates from CoinGlass, a crypto data platform.
During the same period, ZEC’s Open Interest (OI), the total unsettled futures in the derivatives market, fell by 3.45% to $2.26 billion.
Despite the Zcash community awaiting the implementation of a major network upgrade dubbed NU7 (Network Upgrade 7), to speed up transaction times across the network, its social mentions have significantly declined.
Earlier on Thursday, Santiment revealed that Zcash recorded 50 mentions on October 14 across its tracked platforms compared to a volume of 671 on September 18, 2026.
Consequently, ZEC faced stronger selling pressure over the past 24 hours due to a broader crypto selloff amid lower investor demand.
Featured image via Shutterstock
