Largest ZEC Short on Hyperliquid Sits on $14.5M Unrealized Loss

A whale address (0xd47) holding the largest ZEC short position on Hyperliquid has an unrealized loss of $14.5 million, or roughly 250% of the position value, HyperInsight data show. The loss grew by $3 million on Nov. 7 as ZEC surged 15% to $586. The address holds a $29.26 million short with an average entry price of $294, continuously averaging down since Oct. 11 without closing any portion. The same address also holds a 15x leveraged ETH short with an unrealized profit of $5.95 million, or about 353%.