ZEC Experiences Significant Price Surge with 40% Increase in 24 Hours

On May 6, ZEC witnessed a notable price increase, according to BlockBeats On-chain Detection. Hyperinsight monitoring revealed that ZEC's price on Hyperliquid reached $590, marking a 40% rise within 24 hours. The primary beneficiary of this market movement is the on-chain trader Loracle, whose long position has seen substantial gains, amounting to $6.6 million. The position was established two weeks ago on April 24 with a 10x leverage when ZEC was priced around $340. Since then, Loracle has continuously increased the position size, pushing the total to $19.6 million with an average price of $387. Currently, Loracle holds the largest long position in ZEC on-chain and has not yet realized the profits. The address associated with this position is 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae.