A certain address shorted ZEC with 10x leverage and has already incurred a paper loss of $1.177 million.

According to Odaily Planet Daily, on-chain analyst Ai Yi reported that an address (0x7b7...2734e) opened a 10x leveraged short position in ZEC on Hyperliquid 16 hours ago, currently holding 31,015.92 ZEC, worth approximately $21.43 million, with a current unrealized loss of $1.177 million. This position is the second largest short position in ZEC on Hyperliquid. In addition, this address also holds short positions in BTC worth $149 million and XRP worth $27.83 million. The account's total short positions amount to $198 million, with a total unrealized loss of $1.22 million.