Whale shifts ZEC leverage: 5x long $2.4M gain, 10x short
Onchain Lens data shows a crypto whale used HyperLiquid for aggressive ZEC leverage trades. First, the whale deposited 2.19 million USDC to open a 5x long position on ZEC, acquiring 30,000 ZEC valued at $15 million and netting $2.4 million in floating profit. Three days later, the same whale deposited 1.15 million USDC to open a 10x short on ZEC, a $5.2 million position with a liquidation price of $1,358.14 and an unrealized loss of $218,700. These leveraged trading moves highlight growing DeFi margin activity on HyperLiquid. Traders should watch ZEC volatility and liquidity, as high ZEC leverage positions can trigger rapid liquidations and influence market dynamics.
Bearish
The whale’s shift from a profitable 5x ZEC long to a 10x ZEC short signals caution and a bearish stance on ZEC. In the short term, this large leveraged short could add downward pressure on price and increase volatility, especially if liquidations occur. In the long term, sustained margin bets of this size may encourage other traders to adopt similar hedges, potentially dampening bullish momentum and stabilizing prices around support levels. Overall, the news points to a cautious market outlook for ZEC.