Zcash's ZEC rose above $1,400 for the first time, reaching $1,427.73 on Sept. 17, according to CoinMarketCap. The token was up 14.62% from a day earlier and 21.28% from a week earlier, extending a rally that had previously taken it to 1,444 USDT on OKX before easing to 1,420.57 USDT. The move focused attention on BitForex founder Garrett Jin, who withdrew 35,001 Ether from Binance and deposited it into Hyperliquid, a transfer valued at about $85 million. Traders were watching whether Jin could use the Ether as collateral to maintain a short position in ZEC as the rally raised liquidation risks. Jin has also been accused of profiting from insider trading during the largest-ever cryptocurrency liquidation event in October last year. ZEC's rally has been accompanied by heavy derivatives activity, including about $56 million in reported ZEC liquidations and record-level open interest of $2.14 billion, while broader crypto derivatives liquidations totaled $345 million.