Altcoin Sell-Off Sparks $1.21B Liquidations as ETH Drops Under $1,650 and ZEC Slides

A sharp market downturn over the past 24 hours pushed total liquidations to $1.21 billion, with 255,000+ traders affected and $935 million coming from long positions. Zcash (ZEC) saw the steepest move after a code vulnerability was flagged, while Ethereum fell below $1,650 to a fresh 14-month low as broader altcoins also posted sizable losses.