ZEC's largest long position continued to cut losses with a 300% loss, having previously bottomed out with an $8.5 million position ten days ago.

BlockBeats News, February 24 — According to Coinbob’s popular address monitoring, “Hyperliquid early contributor Loracle” significantly increased his ZEC long position on February 15 with 10x leverage, attempting to bottom fish. At that time, his position size reached $8.5 million, with an average price of $312, making him the largest on-chain ZEC long.

Ten days later, today, ZEC is temporarily priced at $237, and this position has suffered a loss of 316%. Facing a massive unrealized loss, the address began cutting losses last night and this morning, continuously reducing his ZEC long. As of now, his position size has sharply decreased to $1.14 million, and he is still reducing his holdings.

Loracle (X: loraclexyz), formerly Laurent Zeimes, is active within the Hyperliquid ecosystem and is regarded as one of the early contributors. He is the founder of Hypurrfun and has recently been active in Hyperliquid’s derivatives market.