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Zcash Plunges 11% Amid Leverage Build-Up and AI Encryption Concerns
Privacy-focused cryptocurrency Zcash has fallen 11% over the past 24 hours, with its market capitalization dropping to $18.5 billion. Experts attribute the decline to a build-up in leverage following its recent price surge, which amplified losses. Growing concerns that AI could break crypto encryption, a topic recently highlighted by Ethereum co-founder Vitalik Buterin, are also cited as a contributing factor. According to CoinGlass, $17.9 million worth of Zcash long positions were liquidated in the past 24 hours.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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