Altcoin Massacre Triggers $1.2B in Liquidations as ETH Tanks Below $1.7K and ZEC Gets Smashed
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Crypto markets saw heightened volatility over the past day with large swings that harmed over-leveraged traders. The biggest move was Zcash (ZEC) crashing after a community-discovered code vulnerability prompted intense backlash and high-profile exits, including Arthur Hayes dumping his entire ZEC position, raising fresh security and contagion risks for crypto investors.
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The wild cryptocurrency market moves continue as most assets have produced even higher fluctuations in the past several hours, which has inevitably harmed over-leveraged traders.
The most significant price fluctuation in the past day came from the recent high-flyer Zcash, which crashed after some community members found a vulnerability in its code. This prompted intense backlash including from popular crypto experts, such as Arthur Hayes, who said he had disposed of his entire ZEC position.
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