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Recently, while looking at the blockchain data, I noticed some interesting activity. A new wallet seems to be opening quite a large position. It’s simultaneously going long on ZEC and HYPE.
According to Lookonchain’s monitoring, this wallet apparently opened a long position worth several million dollars in ZEC and an equivalent size in HYPE, both with 10x leverage, within a short period of time. Combined, it amounts to nearly $3.74 million. ZEC’s market value has been rising, and HYPE is also gaining attention, so maybe they initiated this at this timing.
Such large movements by big players can sometimes indicate a market turning point, so it’s worth keeping a close eye on.