ZEC Experiences Significant Decline as Major Holders Exit Positions

ZEC has experienced a notable decline, with its 24-hour drop expanding to 7%, currently priced at $569. According to BlockBeats On-chain Detection, two major ZEC holders on the Hyperliquid platform have exited their positions, totaling approximately $28 million. One of the largest ZEC holders, known as 'Loracle,' began significantly reducing their holdings since the early morning. As of 20 minutes before the report, they had completely liquidated $19 million in ZEC positions at an average closing price of $567, realizing a profit of $6.888 million, compared to their entry price of $387. Another major holder, identified by the address 0x76d, increased their position to approximately $8.9 million just before the price correction last night. However, they were forced to exit this morning due to the decline, incurring a loss of $328,000.