COINOTAG News, December 1, citing Onchain Lens data, reports that ZEC traded beneath $370, prompting a strategic move by a large holder. To shield a 10x leveraged ZEC long position, the whale injected USDC 1.5 million into Hyperliquid. The maneuver underscores ongoing margin risk management as liquidity dynamics intersect on-chain signals and centralized venues.

Current disclosures show the whale’s unrealized loss at $4.28 million, with total losses near $6.6 million. The data highlight mark-to-market pressure and the role of stablecoins in providing margin buffers amid abrupt price moves in the crypto space.