ZEC Rebounds Above $680 as BTC Whale’s ZEC Short Is Liquidated 7 Times, Draining Balance to Zero
On Nov 20, on-chain analytics show ZEC reclaiming momentum above $680, according to CoinBob’s AI telemetry. A BTC whale address 0x7b7 reportedly drove a sequence of rapid liquidations, seven in quick succession, driving the balance to zero. The same address held a ZEC short of roughly $19 million the prior day, with a peak unrealized gain near $2.4 million. After closing the short to curb losses, the average entry price briefly dipped toward $655.
That address is linked to a well-known participant on Roobet and Stake.com, which reportedly moved about $7 million to Hyperliquid on November 6. The activity appears consistent with a risk-heavy posture, featuring high leverage and narrowly defined liquidation thresholds. On November 17, BTC short activity produced a near $97 million liquidation, briefly ranking the position among Hyperliquid’s largest BTC shorts. The episode underscores how concentrated short exposure can influence liquidity and volatility in crypto venues.