The short version
- The Zcash whale closed its whole 8,000 ZEC long on Hyperliquid on Monday for a loss of about $1.51 million, after $199,000 lost on Friday.
- Within the hour it bought 2,630 ZEC spot, about $3.1 million, and withdrew it to a new Zcash wallet, so it dropped the leverage but kept the coins.
- Next: whether ZEC holds $1,113 into NU7, due around 06:00 UTC on Friday, November 6. We’ll post the next whale move on Base Camp on X.
The Zcash whale that went $14 million long on ZEC last week has thrown in the towel on the leverage. On Monday it closed the full 8,000 ZEC long across its two Hyperliquid wallets and booked a loss of about $1.51 million.
It did not leave ZEC, though. Within the hour it bought 2,630 ZEC on Hyperliquid’s spot market, about $3.1 million, and sent the coins to a new Zcash wallet that has not moved them since.
ZEC trades at $1,142 at the time of writing, down almost 11% in 24 hours and the weakest it has been in two weeks.
This is the post that put the whale on everyone’s screen on Sunday, when the long was still open:
Whale t1JJnA bought 3,052 $ZEC ($3.8M) in spot and opened a 2x long on 8,000 $ZEC ($10.16M).
arkm.com/explorer/addre…
hypurrscan.io/address/0x2ae5…
hypurrscan.io/address/0x9071…
How Much Did the Zcash Whale Lose?
About $1.51 million on Monday alone. The bigger wallet, 0x2ae5, sold its 5,000 ZEC long between 17:25 and 17:28 UTC at an average of $1,188, for a loss of $1.02 million. The smaller one, 0x9071, closed 3,000 ZEC at $1,190 a few minutes earlier, another $490,000 down.
Add Friday, when the smaller wallet cut 2,000 ZEC of its long at a $199,000 loss, and the leverage trade cost about $1.71 million in five days. The bigger long had filled at $1,392 on Thursday, within $8 of the day’s $1,400 top.
It picked a bad hour to sell. ZEC fell from $1,232 to as low as $1,169 on Binance between 17:00 and 18:00 UTC, and kept sliding into the evening.
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Where the Money Went
Most of it went back into ZEC. The two wallets bought 2,631 ZEC spot at about $1,188 and withdrew them to the Zcash chain. Two deposits reached t1f9Esq, a wallet first used on Monday: 1,181.7 ZEC at 19:26 UTC and 1,448.8 ZEC at 19:53 UTC. Its balance is 2,630.5 ZEC and nothing has left it.
Another $2.54 million in USDC moved from the bigger wallet to HyperEVM, Hyperliquid’s own smart-contract chain. Both trading accounts now hold less than $12 between them.
That puts the whale’s ZEC withdrawals since Thursday at 22,410 coins, worth about $25.6 million at today’s price. The 3,052 ZEC Lookonchain spotted on Sunday in t1JJnA are still there, untouched.
So the Zcash whale paid $1.7 million to drop the 2x leverage and kept the coins. A trader who has given up on ZEC sells it. This one swapped a margin position for coins nobody can liquidate.
SIDE TRAIL: Zcash Whale Goes $14M Long on ZEC and Pulls $25M of Coins Off Hyperliquid
Zcash Price: Does $1,113 Hold?
So far it does. The Zcash price closed Monday at $1,135 on Binance, its lowest daily close since October 18, but still above $1,113, the floor daily closes have held since October 8. A wick on October 18 reached $1,049 and bounced.
Overhead, the whale’s own exit price near $1,188 is the first test, then $1,296 and the 50-day moving average (MA) at $1,316. The 200-day MA sits far below at $751.
NU7 is the date to watch. The upgrade, which cuts Zcash block times from 75 seconds to 25 and adds a fee sink, activates at block 3,543,405. The chain is about 3,340 blocks short, which at 75 seconds a block points to around 06:00 UTC on Friday, November 6. A daily close under $1,113 before then would be the first break of that floor in almost a month.
TRAIL MAP: Risk Management: The 1% Rule and Position Sizing That Keeps You in the Game
TheCryptoMonk has been trading since 2017 and reads the market from the top down. The focus is macro and the high timeframes: where stocks, rates and liquidity are heading, and what the weekly and monthly charts say about Bitcoin. Short-term noise matters less than the bigger trend.
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