Mysterious Whale Closes $1.25M Zcash Profit as New Wallet Opens $3.54M Long Position
The crypto community is once again watching Zcash (ZEC) closely after the wallet 0x6EF9, previously linked to a well-timed $12.6 million long position, closed its trade — locking in an estimated $1.25 million in profit.
The move ends one of the most talked-about positions on the decentralized derivatives platform Hyperliquid, but market watchers didn’t have to wait long for the next twist.
A New Whale Appears
A newly active address, 0x089f, has deposited 3.54 million USDC on Hyperliquid and set a limit long order on ZEC at $508.5. The size and timing of this new position immediately drew attention, as it mirrors the previous whale’s trading pattern almost exactly.
Some traders are now speculating whether 0x089f could be connected to 0x6EF9, possibly signaling a continuation of the same strategy through a fresh address.
Whale 0x6EF9’s Exit and Market Impact
The previous whale position was entered in late October, just before a 30% market correction in ZEC. Despite the volatility, the trader’s entry near $509 allowed the position to remain in profit through the recovery phase, ultimately closing around current levels for a substantial gain.
The successful exit appears to have inspired renewed confidence among leveraged traders, who see the ZEC market as ripe for strategic accumulation.
Renewed Speculation on Insider Links
Given the uncanny timing of both positions — and their precision in placement — speculation around insider knowledge continues to circulate within the trading community. Some observers argue these moves reflect deep technical understanding and superior liquidity modeling rather than inside information.
However, others note that such accuracy in positioning, especially through pre-set limit orders, could indicate access to non-public market data or institutional-level insight.
The Broader Zcash Context
Zcash has been volatile in recent months as privacy-focused coins face increased scrutiny from regulators. Yet, recent on-chain activity suggests renewed institutional and speculative interest in ZEC derivatives.
If the new long position from 0x089f plays out similarly to its predecessor, it could reinforce the narrative that ZEC is entering a new accumulation phase — potentially setting the stage for a broader recovery.
For now, all eyes remain on Hyperliquid and the unfolding whale activity. Whether this is a new trader or a familiar one returning under another address, the Zcash market has once again captured crypto Twitter’s attention.
