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New wallet deposits $3.6 million USDC, what does the ZEC 10x long imply?
【BiTi】An interesting on-chain signal has emerged. A newly created wallet deposited $3.6 million USDC into HyperLiquid and immediately opened a 10x leveraged long position on ZEC. More notably, this wallet also placed additional buy orders in the $400 to $401 price range, indicating strong confidence in a subsequent rally.
What does such a large leveraged position typically indicate? It could be the strategic move of a professional institution or a large trader with informational advantages testing the market. The $3.6 million principal combined with 10x leverage effectively targets ZEC as a key asset. The placement of additional buy orders is particularly intriguing—it suggests that the counterparties are not just looking to build a position in one go but are instead aiming to accumulate on dips, which is a classic bullish signal.
The key going forward is whether the $400 support level can hold. If trading volume increases, this signal could evolve into a broader market sentiment shift.