ZEC Price Surges with Significant Gains for On-chain Trader

On May 9, ZEC experienced a notable price increase, reaching $618 on Hyperliquid, marking an 8% rise over the past 24 hours. According to BlockBeats On-chain Detection, the primary beneficiary of this trend is the on-chain trader Loracle, whose long position has seen substantial gains, amounting to $7.7 million at the time of reporting. The position was initially opened on April 24 with a 10x leverage when ZEC was priced around $340. Since then, Loracle has continued to increase the position size, pushing it to $20.7 million with an average price of $387. Currently, Loracle holds the largest long position in ZEC on-chain, with no profit-taking actions yet. The address associated with this position is 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae.