Zcash (ZEC) experienced a significant market event with 1374% imbalanced liquidations over a 12-hour period, causing its price to fall from $455.22 to $414.06. This sharp decline resulted in long positions losing $1.44 million, while short positions saw losses of $97,690 after the price broke below the critical support level of $415. Currently, Zcash is trading at $418.86, marking a 6.62% decrease in the past 24 hours, with trading volume reaching $589.72 million. The recent S-3 filing for Grayscale's ZEC ETF indicates growing institutional interest in the privacy-focused cryptocurrency.