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Zcash News Update: ZEC Price Swings Cause Crypto Whale to Lose $1.17 Million on 10x Short

Zcash News Update: ZEC Price Swings Cause Crypto Whale to Lose $1.17 Million on 10x Short

Bitget-RWA2025/11/16 09:02
By:Bitget-RWA

- A crypto whale's 10x short position on Zcash (ZEC) incurred $1.17M losses as prices fell below $360, triggering partial liquidations. - ZEC's volatility highlights risks in leveraged trading, with lower-cap assets facing manipulation and liquidity crises at platforms like Hyperliquid. - Whale activity intensified as Ethereum whales repositioned $1.39B and $5M in tokens amid regulatory uncertainties and market turbulence. - Leveraged ZEC positions show extreme duality: one whale's $8.28M unrealized gain c

A large investor has opened a heavily leveraged short bet on

(ZEC) using 10x leverage, resulting in a $21.43 million position that is currently sitting on an unrealized loss of $1.177 million. This trade, initiated at an entry price near $360 per , has suffered due to a recent drop in price, leading to considerable losses for the trader. This situation highlights the increasing instability in the crypto market, especially for smaller-cap coins like ZEC, which are increasingly targeted by high-leverage strategies and potential manipulation .

The short position, worth $21.43 million, was

, according to blockchain records.
Zcash News Update: ZEC Price Swings Cause Crypto Whale to Lose $1.17 Million on 10x Short image 0
The whale’s approach has proven costly as ZEC’s value fell below the average purchase price, resulting in forced partial liquidations and urgent attempts to minimize losses. In the last nine hours, the trader has cut their position by more than 30,000 ZEC, realizing a loss of about $960,000. Despite these reductions, the remaining holding still faces an unrealized loss of $950,000, representing 46% of the original position .

This aggressive shorting of ZEC has occurred alongside broader market instability, including a $4.9 million bad debt event at Hyperliquid, a decentralized exchange (DEX) that has repeatedly been the focus of manipulation attempts. The DEX’s liquidity provider (HLP) recently

involving the POPCAT, where a trader artificially drove up bids before liquidating long positions, causing a chain reaction of losses. Although Hyperliquid’s troubles are not directly linked to the ZEC trade, they underscore the systemic dangers in leveraged markets, where limited liquidity and high leverage can intensify losses for both platforms and individual investors.

The ZEC short also mirrors a wider pattern of whale activity in the digital asset space.

, a major whale withdrew 444,895 (about $1.39 billion) and shifted their capital, while another sold off $5 million in tokens from the ETH ecosystem. These actions point to a rotation among large holders, with some moving into safer assets or cashing out amid ongoing regulatory and economic uncertainty.

ZEC’s price has experienced significant volatility. The token has undergone sharp fluctuations lately, with traders using both long and short leverage to profit from its movements. The largest ZEC short on Hyperliquid, controlled by address 0xd47, has

to $10.87 million, though the position remains large at $30.64 million. At the same time, another whale’s 5x long position in ZEC has produced an $8.28 million unrealized profit, demonstrating the high-risk, high-reward nature of leveraged trading in a fragmented market.

The difficulties faced by the ZEC short come as institutions and analysts remain wary of the overall crypto sector. Hyperion DeFi, a publicly listed company with major HYPE holdings,

for Q3 2025 but cautioned against making short-term price forecasts, instead stressing the importance of long-term DeFi revenue growth. This prudent stance stands in contrast to the speculative trading that often drives leveraged bets and increases market volatility, exposing traders to sudden margin calls.

As the crypto industry contends with regulatory pressures and economic challenges, leveraged trades like the ZEC short highlight the risks involved. The ongoing interplay between whale maneuvers, market manipulation, and liquidity issues continues to shape the sector’s volatility, with both retail and institutional participants preparing for more market swings.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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