Zcash Futures Crash 859% as Long Positions Get Wiped Out: What Next?

Privacy token Zcash (ZEC) led losses among majors as investors weighed macro concerns amid a busy week of economic data. At the time of writing, Zcash was down 5.98% in the last 24 hours to $1,190, the biggest drop among the top 10 cryptocurrencies by market cap. Zcash Futures OI (Open Interest) fell 3.35% in the last 24 hours to $2.44 billion. Its CVD (Cumulative Volume Delta) is the most negative among the major coins, meaning market-order selling outweighed buying. Funding is positive, implying longs are paying shorts. Attracting further attention is its futures flow within the last 24 hours, which fell by 859.86%, with futures outflows surpassing inflows.

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