Whale closes $24.4M ZEC short on Hyperliquid, locking in $10.7M loss

An anonymous whale active on Hyperliquid, a decentralized perpetual futures exchange, closed a $24.43 million ZEC short position around an hour ago, realizing a loss of about $10.68 million, on-chain analyst EmberCN said. The wallet address starts with 0x362. According to EmberCN, the whale built the ZEC short position about 15 days ago, and with the forced liquidation price at $1,551, a voluntary exit had become unavoidable. EmberCN added the trader had made substantial profits through consistent trading, posting a 79% win rate and cumulative trading gains of $9.11 million since June, but took the wrong direction on ZEC and gave up all principal and profit in a single trade. On Binance's ZEC/USDT trading pair, ZEC was recently changing hands at $1,577, up 8.6%.