ZEC Skyrockets to $590, On-Chain Trader Loracle's Long Position Profits Over $6.6 Million

BlockBeats News, May 6th, according to Hyperinsight monitoring, ZEC saw another surge in the past 1 hour, with the price on Hyperliquid currently at $590, representing a 40% increase in the last 24 hours. The biggest beneficiary of this rally is on-chain trader Loracle, whose long position gains have continuously grown along with the market, reaching $6.6 million as of the time of writing.

It is reported that this position was opened with 10x leverage two weeks ago (April 24th), when the ZEC price was around $340. Since then, there have been continuous roll-ins and additional leveraged positions, gradually increasing the long position size to $19.6 million, with an average price of $387. Loracle currently holds the largest on-chain ZEC long position and has not yet taken profit.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae