Zcash Whale Loses $25.7M as Price Surges Past $1,200

A major account on Hyperliquid has suffered an estimated $25.7 million loss due to Zcash's recent price surge. According to on-chain analyst Ember, the wallet opened a short position of 32,760 ZEC in early July at an average entry price near $444.

Since then, Zcash has rallied from roughly $400 to over $1,200, marking an increase of about 170% within two months. At the current market price, the difference between the entry price and the current market price puts the unrealized shortfall at approximately $24.8 million.

The position remains deep in the red, with the ZEC losses far outweighing the Bitcoin gains held by the same wallet. The net result is a significant negative balance for this period.