- Two wallets opened 29,798 ZEC in 10x longs worth $37.57M on Hyperliquid perps within 15 hours
- Positions entered near spot with no disclosed liquidation threshold — roughly 10% adverse move risks liquidation
- ZEC surged over 25% in the prior week amid privacy-coin rotation as Monero faced regulatory pressure
- Watch wallets 0x30af...393e and 0xbf73...d58 on Hypurrscan for position additions or exchange inflows
BREAKING
Zcash (ZEC) has surged more than 25% over the prior week, riding a rotation into privacy-coin assets as regulatory scrutiny on Monero intensified and broader risk appetite in crypto perpetuals markets expanded. That momentum has now attracted significant leveraged conviction from at least two large on-chain actors.
Over a 15-hour window, two wallets opened 10x leveraged long positions on Hyperliquid’s ZEC perpetuals market totaling 29,798 ZEC — valued at $37.57 million at entry. The positions were flagged by Lookonchain and independently verifiable on Hypurrscan.
Wallet one — 0x30af…393e — and wallet two — 0xbf73…d58 — both entered near current spot levels with average entries unhedged and no disclosed stop or liquidation threshold made public. The exchange is Hyperliquid; the instrument is ZEC perpetuals.
On-chain analysts interpret a coordinated 10x long of this size — $37.57M notional across two wallets inside a single 15-hour session — as a directional conviction bet, not passive accumulation.
At 10x leverage, a roughly 10% adverse move against the position would approach liquidation territory, meaning these wallets are wagering on continued near-term upside rather than a slow grind. The privacy-coin narrative context matters here: with Monero facing renewed regulatory pressure, capital rotating toward ZEC as a liquid alternative has been the primary structural driver of this week’s move. The level to watch is the entry zone itself — if ZEC fails to hold spot prices near current levels, leveraged longs of this size face cascading liquidation risk that could amplify any pullback. Conversely, a sustained hold above the entry zone keeps the positions solvent and may attract further long-side interest. For broader context on how leveraged whale positioning on Hyperliquid has played out recently, see Hyperliquid Gambler’s ETH Long Liquidated for $1.08M — $110.85M BTC Bet Remains.
The next confirmation signal to track is whether these two wallets add to their positions, reduce exposure, or hold flat as ZEC price evolves. An increase in position size from either 0x30af…393e or 0xbf73…d58 would signal escalating conviction; a partial close would indicate profit-taking or risk reduction. On-chain activity that would deny the bullish read: large ZEC inflows to centralized exchanges from either wallet — that would suggest a hedge or an intent to unwind. No statements from the Zcash Foundation or core developers have been identified in connection with these trades. The positions remain live and trackable in real time via Hypurrscan.
Frequently Asked Questions
What is the liquidation risk on these 29,798 ZEC 10x long positions?
Why are whales rotating into ZEC specifically rather than other privacy coins?
How can I track whether these whale positions are still open or have been closed?
Source: Lookonchain · Published by CoinsProbe Markets Desk
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