ZEC Price Rises 22% as On-Chain Open Interest Surges, Largest ZEC Short Reaches $163M and Whale 3x Long at $32.2M

According to HyperInsight on December 29, the ZEC price has advanced roughly 22% since December 27, marking a visible rally. The open interest on the Hyperliquid platform also swelled, with major on-chain long and short positions elevating bets.

The ZEC Largest Short address now holds a short exposure near $19.84 million at an average entry of $417, with a floating loss around $4.51 million (~-113%). Active since October, it trimmed to $9.1 million on December 17 and has since increased, lifting total short exposure from roughly $113 million to $163 million—the platform’s largest across ETH, ZEC, and MON.

Separately, a whale identified as 0x6b2 expanded its 3x leveraged long position at an average price of $520 yesterday, bringing the current ZEC long to $32.2 million at an average of $431. The position shows a floating profit of about $6.53 million (roughly 60%), underscoring a pronounced on-chain bullish stance for ZEC.