In-Depth Analysis: The Largest ZEC Short Seller Keeps Adding to HYPE Short Positions with Over $4 Million in Short-Term Holdings

On February 4, a notable shorting activity caught market attention. According to Hyperinsight, an address known as the 'largest ZEC short seller' performed consecutive short position adjustments on HYPE within a span of two minutes, adding 119,470.37 HYPE shorts, with a total value of approximately $4.1354 million.

Details of the Position Adjustment

Data shows that the address first added 58,431.91 HYPE shorts (approximately $2.011 million) at 11:21, followed by an additional 61,038.46 HYPE shorts (approximately $2.1245 million) at 11:23. After these adjustments, the total value of the HYPE short positions reached $11.4743 million. However, the current floating loss remains at $1.4174 million, representing a loss of about 61.47%. The average holding price rose to $29.08, with a liquidation price at $98.65.

Historical Context and Market Impact

The address has gained widespread attention for its large-scale short position in ZEC. It initially began shorting ZEC when the price was at $184 and experienced a floating loss of up to $21 million before eventually turning a profit.