Large capital really does have a keen sense. Before the Orchard vulnerability was fully disclosed, it had already pulled out half of its position. Whether Zcash can hold steady this round still depends on the subsequent disclosures.

Zcash is accused of having an infinite issuance risk due to Orchard zero-knowledge proof vulnerability, and related public opinion continues to ferment. The Hyperliquid platform ZEC contract holdings have decreased from a peak of approximately $371.8 million on June 3 to about $180 million currently, with nearly $145 million in positions exiting early between June 3 and the morning of June 4, indicating that large funds react faster than public disclosure. The details of the vulnerability have not been widely disclosed, and the coin price remains in a stabilization phase.