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Hyperliquid uncovers $25.56 million ZEC short position, with unrealized losses exceeding $10 million
【Block Rhythm】A remarkably large short position has appeared on the Hyperliquid platform. Currently topping the contract holdings chart, someone has opened a 5x leveraged short on ZEC, with a position of 50,370.45 coins, roughly totaling $25.56 million at current prices.
This position is currently showing significant unrealized losses, with a floating loss of about $10.8 million. The average entry price is around $293.03, while the liquidation price is set at $712.68—meaning if ZEC rises to this level, the large holder will be forcibly liquidated.
Such a sizable opposite position suggests either extreme bearishness on ZEC’s future or some form of hedging strategy. Regardless, this position size and floating loss are worth keeping an eye on.