ZEC long-short battle escalates: "ZEC's largest short" increases position to $20 million despite floating losses, while main long holders have floating profits of $6.5 million

BlockBeats News, December 29, according to HyperInsight monitoring, as the price of ZEC has continued to rise since the 27th (with a cumulative increase of about 22%), the open interest (OI) of ZEC contracts on the Hyperliquid platform has risen significantly, with both the largest long and short positions on-chain increasing their bets simultaneously.

The "largest ZEC short" address has recently continued to increase its short positions, with its position size rebounding to $19.84 million at an average price of $417, currently with an unrealized loss of about $4.51 million (-113%). Since opening ZEC shorts in October, this address has traded frequently, having reduced its short position from $16.5 million to $9.1 million on December 17, and has now increased it again. Its total short position has risen from $113 million to $163 million, making it the largest short on the platform for ETH, ZEC, and MON.

Meanwhile, a whale (0x6b2) significantly increased its 3x leveraged long position yesterday at an average price of $520. The current ZEC long position has reached $32.2 million at an average price of $431, with an unrealized profit of about $6.53 million (60%), becoming the largest ZEC long on-chain.