On-chain analytics show a newly created wallet deposited about $1.23 million in USDC into HyperLiquid and opened a 2x leveraged short on ZEC. The position sizes 5,000 ZEC with an entry around $400 and a liquidation price near $615.37. The address is currently holding roughly $404,000 in on-chain assets, signaling ongoing engagement with HyperLiquid rather than a one-off trade.
From a risk perspective, the setup reflects a high-conviction short exposure funded by stablecoins, with leverage amplifying potential moves. The data, sourced from OnchainLens, underscores prudent risk management and liquidity dynamics in crypto markets. Market participants should monitor for further HyperLiquid activity tied to this address to gauge near-term sentiment in ZEC trading.
Source: https://en.coinotag.com/breakingnews/whale-opens-2x-short-on-zec-with-1-23m-usdc-on-hyperliquid-entry-at-400-and-liquidation-at-615-37
