The largest ZEC bull has been continuously liquidating at a loss of 300%, having bought the dip with an $8.5 million position ten days ago

BlockBeats News, February 24th, according to Coinbob Popular Address Tracker data, the "Hyperliquid early contributor Loracle" on February 15th, opened a large 10x leveraged long position on ZEC, attempting to bottom fish. At that time, the position size reached a peak of $8.5 million, with an average price of $312, becoming the largest on-chain ZEC long.

Ten days later today, ZEC is currently trading at $237. The loss on this position has expanded to 316%. Faced with a huge unrealized loss, the address started to cut loss and reduce the ZEC long position last night and this morning. As of now, the position size has been sharply reduced to $1.14 million, and the selling is still ongoing at the time of writing.

Loracle (X: loraclexyz), originally named Laurent Zeimes, is active in the Hyperliquid ecosystem and is considered one of the early contributors. He is the founder of Hypurrfun and has been recently active in the Hyperliquid contract market.