Zcash (ZEC) just went vertical, ripping up to around $1400 and pushing its market cap past $23 billion. CoinGecko data shows ZEC has exploded by over 2500% year-over-year, with a massive 160% pump just in the last month. This wild rally triggered a wave of liquidations on derivatives markets: more than $55 million was wiped out in the past 24 hours alone.

ZEC Price Nears $1400

ZEC shot up to roughly $1400, sending the total value of circulating coins north of $23 billion. That kind of price action really highlights the scale of the current run.

Performance: Over 2500% in a Year, 160% in a Month

Over the past year, ZEC has surged more than 2500%, and the last month alone saw gains over 160%, according to CoinGecko. These numbers put ZEC among the most volatile assets in the crypto market right now.

Futures Market Liquidations

This price rocket has been rough on derivatives traders, with a huge spike in liquidations. In just 24 hours, total liquidations topped $55 million, showing just how much stress the ZEC futures market is under.