Hyperliquid ZEC Whale Exits 5x Long, Gains $1.085M
On November 7, a leading whale (0x519...96a47) on Hyperliquid closed its 5× leveraged ZEC long position, realizing a net profit of $1.085 million over the past week. At its peak, the trader held 21,978.9 ZEC (approximately $9.24 million), ranking as the largest long holder on Hyperliquid. The closure coincided with ZEC’s price breaking above $580 on OKX, reaching $579.01 and posting an 18.1% gain in 24 hours. This profit-taking move highlights strong bullish momentum in ZEC and offers traders insights into managing leveraged positions and monitoring whale activity. Spot and derivatives traders should watch similar events for indications of short-term price swings and long-term confidence in privacy-focused altcoins.
Bullish
The closure of a fivefold leveraged ZEC long by a leading whale after ZEC’s 18% 24-hour rally underscores strong bullish momentum in the privacy-coin market. Historically, large profit-taking by whales following sharp price surges often leads to short-term consolidation or minor pullbacks, as seen when Bitcoin whales booked gains after quick breakouts above key resistance levels. However, the fact that this whale secured $1.085 million profit at a high entry point suggests continued confidence and reduced risk exposure. In the short term, traders may see modest price corrections as leveraged positions unwind. Yet, the long-term market outlook for ZEC remains bullish, supported by growing interest in privacy assets and resilient buying pressure post pullbacks. Continuous tracking of whale moves on platforms like Hyperliquid can help anticipate future momentum shifts in ZEC trading.