ZEC Drops 9%, a Whale Loses $5.84 Million Longing Spot and Futures

Odaily reports: On-chain analyst Ember posted that as ZEC fell 9% today, a whale who recently went long on both ZEC spot and futures lost $5.84 million. On the spot side, the whale spent $31.78 million over the past 4 days to buy 25,002 ZEC at an average price of $1,271, currently sitting on an unrealized loss of $3.26 million. On the futures side, the whale simultaneously opened a long position of 18,910 ZEC on Hyperliquid at $1,378; the position was fully closed via stop-loss after ZEC fell below $1,200 in the early hours of today, resulting in a loss of $2.58 million.