The "top ZEC long position" has already suffered a paper loss of $2.4 million.

Hyperbot data shows that as ZEC prices fell, the largest long ZEC account has incurred overall losses. Its current position is 35,000 ZEC, with a total value of $18 million. The account is currently in a paper loss state, with unrealized losses of -$1.16 million. The average entry price was $559, and the liquidation price was $474. ZEC is currently trading at $520. The account's unrealized profit plummeted from a peak of $12 million to less than $1 million, a reduction of over 90%, before recovering to $5.15 million as ZEC rebounded.