90% of ZEC bullish whales are in the red, and multiple whales have been liquidated one after another.

ZEC suffered a sharp drop on Hyperliquid, falling from $1199.20 last night to $965.79 this afternoon, a range decline of roughly 19.5%. As of press time, it is trading at $987, with a 24-hour drop of around 14.7%. The sharp market plunge has completely wiped out the long positions of large capital holders. Among the 32 ZEC long addresses holding over $1 million across the market, 27 are now in unrealized losses, accounting for a staggering 84.4%, with total unrealized losses of approximately $23.74 million. These 27 trapped whales hold a total of around 122,600 ZEC, worth about $121 million, making up 90.2% of the whale group’s total long positions and nearly 30% (29.5%) of Hyperliquid’s total open interest (OI) for ZEC perpetual contracts in the same period. The weighted average entry price of these 32 addresses is $1127.26, and the current price is roughly 12.5% below the overall cost line. Among them, the address with the largest unrealized loss, 0xc36a, holds around 13,500 ZEC long positions at an average price of $1229.96, with current unrealized losses of about $3.27 million, and its liquidation price stands at $894.23. Additionally, some diamond hands accounts have been repeatedly liquidated: Address 0x8f74 was forced to close all its 567 long positions this morning, suffering a loss of around $112,500. Meanwhile, address 0xb200 was liquidated three times in the past 24 hours, totaling 324 positions.