ZEC Whale Maintains 5x Leveraged Short at $360 as Zcash Price Reaches $686, Unrealized Loss Climbs to $20 Million

As of November 16, HyperInsight tracking shows the largest ZEC short on Hyperliquid has persisted for more than a month. In the early hours, an additional 5 million USDC was transferred to the margin account to bolster liquidity. The 5x leveraged ZEC short was opened at $360; with ZEC near $686, the estimated liquidation price sits around $1,084, and the unrealized loss has climbed to approximately $20 million. The position began on October 11 and has been averaging down through the uptrend, underscoring elevated risk in concentrated altcoin shorts.

Separately, the same whale established a 15x leveraged ETH short valued at roughly $26 million, now showing an unrealized gain around $7 million with an entry price near $4,094. The development highlights ongoing margin-driven crypto exposures and the demand for high-leverage trades amid volatile market swings.