ZEC/BTC Exchange Rate Reaches New Highs Amid Whale Activity

The ZEC/BTC exchange rate recently hit a historic high, according to BlockBeats On-chain Detection. On May 20, the rate surged significantly, reaching a peak of 0.00895 on May 23. During this period, two major whales on Hyperliquid established opposing positions on the ZEC/BTC exchange rate, each exceeding $70 million in scale. The positions are as follows: The 'BTC OG Insider Whale' completed its position on May 22, holding a long BTC position with 5x leverage valued at $38.6 million and a short ZEC position with 3x leverage valued at $34.6 million. The expectation is for BTC to outperform ZEC, leading to a decline in the ZEC/BTC exchange rate. The current net profit stands at $920,000. Conversely, 'Trader Evaded' established their position on May 24, with a short BTC position using 40x leverage valued at $40.2 million and a long ZEC position with 5x leverage valued at $32.2 million. This trader anticipates ZEC outperforming BTC, resulting in an increase in the ZEC/BTC exchange rate. However, the current net loss is $2.55 million. After peaking on May 23, the ZEC/BTC exchange rate fell by 7.76% over the past 24 hours, now standing at 0.00788. In this market scenario, the 'BTC OG Insider Whale' has already realized profits by taking the correct directional position, while 'Trader Evaded,' who entered at the peak, is currently under significant pressure. HyperInsight Bot is now available. By adding @HyperInsightBot to a Telegram group and setting it as an administrator with message-sending permissions, users can automatically sync on-chain information.