Zcash Price Prediction: A Four-Year Bug Wiped 40% From ZEC in One Day and Arthur Hayes Sold Everything
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A critical four-year vulnerability in Zcash's Orchard shielded pool that could have allowed undetectable counterfeit ZEC caused an over 40% one-day crash from $675 to about $380 on June 6, wiping out all four EMAs and leaving the 200 EMA as the next technical floor. Market impact included $45.92M of 24-hour liquidations, open interest rising 8% to $917M with professional traders net short for the first time this cycle, and Arthur Hayes selling his entire ZEC position while leaving the door open to buy back, highlighting crypto security and token-confidence risks for ZEC.
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- A four-year vulnerability in Zcash’s Orchard pool allowing undetectable ZEC counterfeiting triggered a 40% single-day crash.
- Arthur Hayes sold his entire ZEC position but left the door open to buying back at higher prices.
- Shorts absorbed $45.92M in 24-hour liquidations as OI jumped 8% to $917M with professionals net short for the first time this cycle.
Zcash trades at $380 on June 6, attempting a partial recovery after crashing more than 40% from $675 following the disclosure of a critical vulnerability in the Orchard shielded pool that could have allowed counterfeit ZEC minting to go undetected for over four years.
ZEC Daily Chart: All Four EMAs Lost in One Candle and the 200 EMA Is the Last Floor
ZEC/USD Daily Price Action (Source: TradingView)
The daily chart captures the scale of the damage. ZEC had been building cleanly above all four EMAs since Apr…
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