Zcash (ZEC) has risen 177.8% in one month, making it the strongest performer among the 10 largest cryptocurrencies and inflicting heavy losses on short sellers. One trader closed a 12,285 ZEC short for a $10.68 million loss after recording 26 consecutive wins and an 89% success rate across 47 trades. Garrett Jin holds the largest remaining short, covering 37,999 ZEC worth $59.37 million and showing a $33.87 million unrealized loss. His 1,333 BTC long is up $4.41 million, partly offsetting the shortfall. ZEC trades near $1,563, ranks ninth by market value at $26.47 billion, and has attracted buying from large holders and institutions. One address withdrew 15,860 ZEC worth $22.69 million from Binance, while another moved 7,081 ZEC over two days. Zcash exchange-traded funds recorded $98.2 million in inflows during the week ending Sept. 18, lifting assets 40.5% to $914.5 million. Hyperliquid ZEC perpetuals had open interest of 574,045 ZEC, worth about $885 million, leaving leveraged positions substantial on both sides.