Major investors make $1.48 million from ZEC bets on Hyperliquid – How to read signals from sharks

Massive Long Position Ahead of Sudden Price Surge

A financial powerhouse recently caught the market’s attention by establishing a 10x leverage position on ZEC (Zcash - a privacy-focused coin) at an average price of $446.48 per token. The trading size reached $11.5 million, but only required approximately $1.15 million in margin thanks to leverage mechanisms. When ZEC’s price surged afterward, this position generated an unrealized profit of $1.48 million – a figure that demonstrates the power of leveraged trading.

This information was publicly shared by on-chain analyst Ai姨 on the social media platform X, opening a deep discussion about the strategies of “whale” investors and the increasingly important role of decentralized derivatives platforms.

Hyperliquid: The Modern Derivatives Trading Arena

Choosing Hyperliquid for this trade was no coincidence. It is a decentralized derivatives platform (DeFi) that allows traders to execute perpetual swaps – a type of derivative contract without an expiration date, constantly tracking the underlying asset’s price.

What are perpetual swaps? They are contracts that let you bet on the price going up or down without owning the asset. You can enter Long (betting on price increase) or Short (betting on price decrease) with leverage. Platforms like Hyperliquid manage these contracts through smart codes on the blockchain, requiring no permission and enabling users to retain their profits independently.

Compared to traditional centralized exchanges (CEX), DeFi platforms offer more liquidity options, competitive fees, and higher control levels. This is why more “whales” are shifting to these platforms.

Power and Risks of 10x Leverage

When a trader uses 10x leverage, they control a position worth 10 times their initial capital. This amplifies profits but also magnifies losses proportionally.

For example: If ZEC increases by 10%, a 10x position yields 100% profit. But if the price drops by 10%, you lose 100% – leading to liquidation. This is why timing entry points is crucial. This trader seemingly seized an opportunity as ZEC was about to enter an upward phase.

Why Are Whales Monitored?

On-chain analysts constantly track large wallets – called “whales” – because their actions often signal strong market sentiment. When a whale opens a large Long position, it can be a high-confidence signal that prices are about to rise.

However, this is not an exact forecast. Retail investors face different risks:

• Lack of capital to withstand continuous liquidations
• No access to privileged information like institutions
• Blindly copying strategies is extremely risky

The real lesson lies in understanding market structure: large long positions can support the price floor, but a sudden liquidation chain can cause sharp declines.

Where Does ZEC Stand Now?

Currently, ZEC (Zcash) is trading at $370.65, down -5.80% in the past 24 hours. This is critical information to monitor, especially with large leveraged positions like this whale’s still open on the market.

The Importance of On-Chain Analysis

Revealing whale positions is made possible by blockchain transparency. All transactions on Hyperliquid are traceable. Analysts like Ai姨 have developed skills to:

• Track large wallets moving funds in and out of exchanges
• Detect new positions on derivative protocols
• Calculate scale, leverage, and profits

This transparency creates a more information-rich market – but also more complex. Modern investors need to understand on-chain data, not just price charts.

Zcash in the Broader Market Context

Launched in 2016 with a focus on transaction privacy, Zcash does not hide network activity or large trades on exchanges. The whale’s ZEC position could reflect:

• New protocol upgrades
• Changes in global legal perspectives on privacy coins
• Overall bullish sentiment in the crypto market
• Technical support levels being broken

All these factors may influence the whale’s decision, but they are part of a complex combination, not the sole cause.

Conclusion: A Turning Point for Derivatives Markets

This trade exemplifies the maturity of the crypto market. Institutional strategies – such as high leverage, nuanced risk management, and choosing DeFi platforms – are now openly executed on-chain. The $1.48 million profit from an $11.5 million bet not only demonstrates the power of perpetual swaps but also reminds us that opportunities and risks in crypto are amplified many times over with leverage.

With ZEC at $370.65, market watchers should stay alert: large leveraged positions could trigger unexpected volatility in the near future.