[After the Largest ZEC Long Position on Hyperliquid Closed, 8,000 ZEC Bought Back on the Dip]
On November 14, an address (0x96e) on Hyperliquid increased its ZEC long leverage to 6x and used the released margin along with remaining funds to fully add to its position, reaching 8,000 ZEC. The position size amounted to $7.71 million, with an average price reduced to $534, and an unrealized loss of $350,000 (28%). Earlier today, during a market downturn, the address closed nearly 7,000 ZEC to stop losses, recording an unrealized loss of $490,000, and later bought back on the dip as ZEC saw a slight rebound.
The address initially opened its ZEC position on November 3 when ZEC was around $380, using $2.21 million in principal to go long on ZEC and roll over the position. The average price peaked at $555, and the principal grew to $10.5 million within a week, making it the largest ZEC long position on Hyperliquid at the time. Recently, due to the decline in ZEC prices, the address gradually reduced its position by 40,000 ZEC since ZEC fell below $600. The position size dropped from $37.01 million to less than $5 million, with a loss of approximately $1.55 million, and the principal decreased to $1.32 million. Currently, it ranks as the second-largest long position on ZEC.