ZEC Short on Hyperliquid Hits $1.4M Unrealized Loss as Largest Position Struggles Amid ZEC Rally

COINOTAG News, December 9, citing HyperInsight, notes that in the last 15 hours the rising ZEC price has driven the Largest ZEC Short on Hyperliquid back into unrealized losses. The address partially closed the ZEC short for about $1.24 million, leaving a current position of roughly $25.7 million. The liquidation price sits at $886, with unrealized losses of $1.4 million (-27%).

Since December 5, the same address has added more than $11 million to the ZEC short, lowering the average entry to $387 from $412. The month has also seen meaningful increases in ZEC and MON shorts, with spreads narrowing as prices move.

Meanwhile, the ETH short dominates profits, with unrealized gains around $7 million (≈223%), on about $47.21 million, with average price down from $4,015 to $3,573. A newly opened 3x MON short totals $7.44 million, with unrealized profit $2 million (80%), largest MON short on Hyperliquid. The address began a ZEC short on October 10 near $184; it swung to a peak unrealized loss of $21 million on October 17, turned to profit on December 1, and has since retraced.