ZEC Surges to $590 in 24 Hours, Up 40%; On-Chain Trader Loracle's Long Position Nets $6.6M

According to BlockBeats citing Hyperinsight monitoring, ZEC surged to $590 on Hyperliquid over the past hour on May 6, with a 24-hour gain of 40%. On-chain trader Loracle emerged as the largest beneficiary, with floating profit on long positions reaching $6.6 million.

The position was opened two weeks ago on April 24 with 10x leverage when ZEC was trading near $340. Loracle has since continuously rolled and added to the position, scaling long holdings to $19.6 million at an average price of $387, making him the largest ZEC long on-chain. No profit-taking has occurred yet.