Whales Hold Amid Heavy Losses in Privacy Coin Sector
As of February 26, major whale addresses holding top privacy coins — ZEC, XMR, and DASH — on Hyperliquid are currently facing significant unrealized losses, yet show no signs of exiting their positions, according to Coinbob tracking data.
ZEC Long Suffers Massive Unrealized Loss
The largest ZEC long address (0xcf9), leveraged 10x with a position size of $5.03 million at an average price of $574, is now down $6.68 million, representing a 294% loss. This unrealized loss already exceeds the original investment, with liquidation expected at $142.
Steady XMR Bull Adds to Position
The top XMR long (0xc17), holding a $3.29 million position with 3x leverage at an average of $384, is down $350,000 or 32%. Notably, this whale has also been adding to its ZEC long, aiming to average down exposure during the drawdown.
DASH Long Emerges from Former Shorting Role
The leading DASH long (0xd47) holds a $1.63 million position with 5x leverage at an average price of $64, now facing a $1.34 million loss, or 414%. Interestingly, this address was previously known as the largest ZEC short, highlighting a strategic shift in positioning amid changing market dynamics.