Biggest Zcash (ZEC) Bull On-Chain Comes Dangerously Close to Full Liquidation
TL;DR
A major Zcash investor has taken a $19.68 million leveraged long position but is at risk of liquidation as ZEC prices fall. The position is close to the critical liquidation threshold of $494.55.
Key points
- Investor '0x8652' has a $19.68 million long position in Zcash.
- The position is at risk of liquidation due to a price drop.
- ZEC corrected to $525.74, nearing the liquidation threshold.
Mentioned in this story
0x8652
In the Zcash market, a high-stakes drama is unfolding as large investor "0x8652" opened an aggressive 10x leveraged long position on 36,875 ZEC worth $19.68 million on Hyperliquid, making him the largest on-chain Zcash bull. However, due to a local correction, the bet has moved dangerously close to forced liquidation.
At the moment, the fate of the multi-million-dollar position depends on holding a narrow price range. ZEC corrected to $525.74, falling 1.91% since Monday's open, while the critical liquidation threshold for the long position is set at $494.55. This means the whale's current margin of safety stands at only around a 6% decline before the automatic full liquidation trigger activates.
Address "0x8652" with $19.68 million ZEC position, Source: Lookonchain citing HypurrScan
The market volume profile shows strong historical support in the $450-$500 zone. But because of the high leverage of up to 10x, the whale risks being liquidated before the price has a chance to stabilize within that range.
High stakes on 'The Next Bitcoin'
The aggressive long position from the large player coincided with a powerful fundamental shift in market perception around the coin. ZEC has already reached publications such as The Wall Street Journal, which published an article where crypto veterans called Zcash "the next Bitcoin". The core thesis is that BTC has become too public and institutionalized, while ZEC restores privacy and cypherpunk ideology to the market.
Q&A
What is the liquidation threshold for the Zcash investor's position?
The liquidation threshold for the investor's position is set at $494.55.
How much Zcash (ZEC) is involved in the investor's long position?
The investor holds a long position of 36,875 ZEC, valued at $19.68 million.
What price range does the Zcash market need to stabilize to avoid liquidation?
The Zcash market needs to stabilize within the $450-$500 zone to avoid liquidation.
