ZEC -33.54% in 7 Days Amid Major Short Liquidation Gains

On DEC 2 2025, ZEC dropped by 5.31% within 24 hours to reach $326.28, ZEC dropped by 33.54% within 7 days, dropped by 23.89% within 1 month, and rose by 478.82% within 1 year.

Major ZEC Short Position Realizes $5 Million in Profits

The largest ZEC short position on Hyperliquid has turned from a significant loss to a substantial profit, raking in over $5 million in realized gains. According to data from Coinbob’s Popular Address Monitor, the position size dropped from $23.21 million to $9.88 million, marking a sharp reduction in exposure. The address still holds an unrealized profit of $2.43 million, representing a 125% gain on the remaining short position.

This position was initially opened on October 10 at an entry price of approximately $184, and later added to in order to average up the entry point to around $419. At one point in early October, the position had reached a maximum floating loss of $21 million, with $3 million in realized losses.

Multi-Asset Short Strategy Shows Strong Performance

ETH has become the most lucrative of these trades, with a floating profit of $9.52 million — a 643% return — on a position size of around $22.16 million.

In addition to ZEC, the address opened a 3x leveraged short position in MON in recent days. MON is currently valued at approximately $6.14 million notional, with a floating profit of $1.82 million (89%). This position remains the largest MON short on Hyperliquid.

ZEC Short Becomes One of the Most Profitable on the Platform

With its unrealized gains and ongoing position reductions, the ZEC short is now among the most profitable shorts on the exchange. The position has generated $15.33 million in weekly profits, demonstrating a strong reversal in fortune for the trader. While ZEC has dropped sharply in the last month, the short position has benefited from the downward movement, highlighting the alignment between strategic shorting and market volatility.

The address continues to hold significant short positions in multiple assets, but ZEC remains central to its recent performance. With the ZEC short now realizing a large portion of its gains, the remaining exposure is expected to further profit should the price continue to trend downward in the near term.

Short Market Activity Reflects Broad Volatility

The broader market has seen mixed outcomes for large holders, with some experiencing significant unrealized gains and others suffering from large drawdowns. While the ZEC short has turned into a major profit driver, other positions such as ETH and XRP longs have suffered from wide unrealized losses. This volatility underscores the high-stakes nature of leveraged trading and the importance of risk management in crypto markets.

No New ZEC Fundamentals Identified

Despite the significant price movements, no new on-chain developments or macroeconomic events related to ZEC were identified in the provided information. The price action appears to be primarily driven by speculative shorting activity and broader market conditions rather than project-specific news or technological developments.

Analysts project that continued short liquidations and bearish momentum could further pressure ZEC in the near term, though the magnitude of future moves remains uncertain and dependent on unfolding market dynamics.