Whales Deposit $9.8M USDC for Leveraged ZEC Longs on Hyperliquid
Onchain Lens data reveals that a newly created wallet deposited 6.27 million USDC into Hyperliquid on November 8, immediately opening a ZEC long at $504. The following day, the same wallet added 3.54 million USDC to launch a 10× leveraged ZEC long. These whale-level USDC inflows and high leverage underline strong bullish sentiment for Zcash. Historically, similar ZEC longs on Hyperliquid have driven notable price swings and heightened market volatility. Traders should watch this activity as a key indicator of potential upward price momentum in ZEC.
Bullish
The significant USDC inflows and high leverage ZEC longs indicate a strong bullish conviction among large traders. Historically, similar whale-driven ZEC leveraged positions on Hyperliquid have coincided with sharp price rallies and increased trading volume, suggesting that this latest activity may spur further upside momentum in the near term. In the long term, sustained whale interest and growing leveraged exposure could reinforce upward trend expectations for Zcash, underpinning bullish market sentiment.