Hyperliquid Whale Storm: ZEC Shorts Turn from Losses to Profits, Ethereum Large Order Surges to $14.33 Million in Unrealized Gains

【Crypto World】Latest monitoring shows that the trading whales on the Hyperliquid platform are experiencing a rollercoaster of holdings.

Let’s start with the ZEC storyline. On December 16th, ZEC experienced a short-term plunge of over 5.5%, with the price dropping below $380. This drop directly turned the position of the “largest ZEC short on Hyperliquid” from negative to positive—this whale currently holds about $16.5 million worth of ZEC short positions, with an average price of $389, and an unrealized profit of $250,000, yielding an 8% return.

At the same time, several large traders with liquidation prices around $350 are facing tests. Address 0x58e has completely closed out and exited, address 0x96e also cut losses and closed, with a loss of about $1 million. Only address 0x535 is still holding on, with a liquidation price around $348.

But the real killer move of this largest ZEC short isn’t in ZEC itself. Its main profit pool comes from ETH short positions—holding a position worth up to $92.45 million, with an average price of $3,377, and an unrealized profit of $14.33 million, yielding a 232% return. This is just the beginning; this whale is also the largest MON short, with total short positions now swelling to $118 million.

Looking back at this whale’s trading history, it’s quite astonishing. Starting from its first short on ZEC on October 10th, with an initial price of about $184. It continued to add to its position and average down, resulting in an unrealized loss of up to $21 million on October 17th. After more than two months of holding on, it finally waited for the reversal moment.