ZEC Long Position Opens at $11.66M on Hyperliquid, Ranking 7th Largest

A trader named fluffysnow has established a 5x leveraged long position of 8,469.64 ZEC (Zcash) on Hyperliquid, valued at $11.66 million (approximately KRW 160 billion). This makes it the seventh largest ZEC long position on Hyperliquid to date. The position was opened on May 17 at 4:50 a.m. GMT, with an average entry price of $1,322.49 per ZEC. According to Odaily, citing on-chain analyst AiYi (아이이), the trade has a mark-to-market profit of $487,000 (approximately KRW 670 million) as of reporting time.

The position is a derivatives trade, not a spot purchase. With 5x leverage, price movements in the underlying asset are amplified in the position's P&L. The mark-to-market profit reflects unrealized gains before closing the position and differs from realized profits. Recent 24-hour liquidation volume in ZEC derivatives markets stands at $57.36 million (approximately KRW 78.6 billion), ranking third after Bitcoin (BTC) and Ethereum (ETH). Hyperliquid previously reported a trend where large wallets' short positions had outpaced longs.