ZEC Short Position Closure Results in $380K Loss for Trader
A BTC price surge to $96,100 triggered multi-million liquidations for a Hyperliquid whale, who quickly redeployed funds into new leveraged ZEC shorts.
BTC
XRP
HYPE
Summary
A rapid 2% spike in Bitcoin’s price to $96,100 over five minutes caused $96.51 million in liquidations for Hyperliquid’s largest BTC short whale, including $2.97 million from XRP and ZEC shorts. Following the losses, the wallet redeposited $1.7 million and opened new leveraged ZEC short positions, highlighting the volatility and risk in high-leverage crypto trading.
Terms & Concepts
- ZEC: The ticker symbol for Zcash, a privacy-focused cryptocurrency using zero-knowledge proofs to enable anonymous transactions.
- Short Position: A trading strategy where an investor sells an asset they do not own, aiming to buy it back later at a lower price for profit.