ZEC Bull-Bear Showdown Upgraded: "ZEC's Largest Short" adds to floating losses to $20 million, while main long positions have already gained $6.5 million in floating profits

On December 29, according to HyperInsight monitoring, as ZEC price has been steadily rising since the 27th (a total increase of about 22%), the Hyperliquid platform’s open interest (OI) for ZEC perpetual contracts has significantly increased, with both the largest on-chain long and short positions simultaneously increasing their bets. The “ZEC largest short” address has recently continued to add to its short positions, with the position size rising to 19.84 million USD, at an average price of 417 USD, currently with an unrealized loss of about 4.51 million USD (-113%). This address has been actively operating since opening a short position on ZEC in October, previously reducing its short from 16.5 million USD to 9.1 million USD on December 17, and is now adding again. Currently, its total short position has increased from 113 million USD to 163 million USD, making it the largest short position on the platform in ETH, ZEC, and MON. Meanwhile, a whale (0x6b2) significantly increased its 3x leveraged long position yesterday at an average price of 520 USD, with the current ZEC long position reaching 32.2 million USD, at an average price of 431 USD, with an unrealized profit of about 6.53 million USD (60%), becoming the largest on-chain ZEC long position.