ZecZcash🐋 ZCASH RALLY LEAVES MAJOR WHALE SHORT $25.7M UNDERWATER
Zcash’s explosive rally above $1,200 is putting enormous pressure on traders betting against ZEC.
According to on-chain analyst Ember, a Hyperliquid trader is holding a massive 32,760 ZEC short position with approximately $25.7 million in unrealized losses.
The position was reportedly opened in early July at an average entry price of around $444 per ZEC.
Since then, ZEC has climbed roughly 170% against the position.
📊 THE POSITION
• Short: 32,760 ZEC
• Average entry: ~$444
• Position value: ~$40M
• Unrealized loss: ~$25.7M
• Status: OPEN
Interestingly, the same wallet also holds approximately $107M in Bitcoin longs, showing around $4.4M in unrealized profit — nowhere near enough to offset the massive ZEC short loss.
The key detail: the ZEC short remains open.
If ZEC continues higher, pressure on the position increases. Closing a short of this size would require buying back tens of thousands of ZEC.
ZEC isn't just moving the spot market anymore.
It's putting major leveraged positions under serious pressure. 🛡️
Source: Crypto.news / Ember
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