2026-01-12 09:28:34

A recent on-chain large long position has attracted attention: a whale holding 42,000 ZEC with 10x leverage. On the surface, it seems like a positive signal, but a deeper analysis reveals that the situation is far from simple.

This whale's overall position allocation is worth noting. At the same time, they opened 20x massive long positions on BTC, ETH, and SOL. In contrast, the 10x leverage on ZEC is actually the lowest leveraged part of the portfolio. This data reveals a key piece of information: their bullish confidence in ZEC is actually relatively cautious, most likely just a rebalancing action under sector opportunities, rather than a major betting direction.

Even more worth warning about is the scale of unrealized profits. Currently, this portfolio's unrealized gains have reached approximately $14.69 million. At such a high profit level, the whale can easily choose to reduce positions and realize gains at any time. The price rally may not stem from long-term optimism, but perhaps just to generate liquidity during the upward movement for easier liquidation.

From the market background, ZEC has recently been in a relatively weak state. The sudden appearance of large long interventions often triggers intense volatility. Historical experience shows that such situations usually indicate a volatile market rather than a one-way upward trend. Retail investors following the trend face risks far greater than expected gains. For investors unfamiliar with specific buy and sell points, cautious observation is more rational than blindly chasing highs.

ZEC1,37%

BTC1,53%

ETH0,67%

SOL1,34%

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BoredWatcher

· 8h ago

Whales have the lowest leverage on ZEC? That’s basically a hint for us not to touch it. Smart people have already figured it out. Wait, 14.69 million in unrealized gains... This guy is ready to run at any moment. If we chase the high, won’t we just be the bag holders? I’ve never been optimistic about ZEC. Even whales only give it 10x leverage. What does that tell us? It’s the same old story—pump to create liquidity and then run. I’ve seen it too many times. Trust me, just observe and wait. No need to chase.

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GasWrangler

· 9h ago

technically speaking, if you actually analyze the mempool data here, that zec leverage is demonstrably sub-optimal positioning relative to the btc/eth/sol allocation... dude's clearly just optimizing liquidity pools for exit, not holding long-term. mathematically superior play would've been consolidating into higher throughput assets, ngl.

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TopBuyerBottomSeller

· 01-12 09:58

Here comes the old trick of cutting leeks again. I've seen this whale playbook too many times. It looks like positive news but is actually a trap to lure more buyers. When the unrealized profit reached 14.69 million, it was time to sell. That's common sense. What does the lowest leverage on ZEC indicate? They don't have confidence at all, yet retail investors are still buying the dip here. When the volatile market arrives, remember not to chase the highs. Those caught in the trap are usually greedy. I specifically fell into this trap here last time, but now I've learned to be smarter.

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fomo_fighter

· 01-12 09:56

Whale's leverage setup clearly looks like they're creating liquidity. The 10x on ZEC is really not worth following the trend. Wait for the volatility.

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BlockchainDecoder

· 01-12 09:48

According to studies, the leverage configuration ratio here precisely reflects the true distribution of risk appetite. ZEC is only 10x, while BTC, ETH, and SOL are all 20x. From a technical perspective, this is essentially an asymmetric position risk configuration, which warrants caution. Data shows that floating profits of $14.69 million have reached a critical point. Historically, this level often triggers profit-taking. Citing several on-chain analysis reports from last year, the probability of whale liquidations in a high floating profit state is usually over 72%. Therefore, this rally is very likely just liquidity hunting. In summary, retail investors following the trend may have just stepped into a trap.

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ImpermanentPhilosopher

· 01-12 09:46

Another baiting tactic, a 10x leverage at most is just for show, the real firepower is all on BTC, ETH, and SOL. --- $14.69 million floating profit just wants to exit? This wave is definitely a pump and dump rhythm. --- The ZEC shot is not the main point at all, don’t be fooled by the whale’s smoke screen. --- Every time I see this kind of combined operation, I want to laugh. Small investors are still chasing highs, while whales are already calculating their accounts. --- Floating profits at high levels combined with weak sectors, this is the classic "I want to run" signal. --- History is repeating itself again, it seems that retail investors’ luck as bagholders never changes. --- The lower the leverage, the more cautious you should be? No, the problem is that this whale doesn’t really believe in ZEC. --- Creating liquidity through a pump is really clever; many people are just walking into a trap. --- Putting a 10x leverage on ZEC here is just a cover, the real show is happening with the other three coins.

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WalletInspector

· 01-12 09:45

Haha, Whale's tactics are so obvious. Giving ZEC only 10x shows they are not optimistic at all. One-minute market movements can make you cry from losses, don't follow the rush. It's the familiar routine again, first pump then dump. The 14.69 million floating profit should have been taken profit long ago. Why are you still slowly adding positions? High leverage is not a ticket to quick profits, but a direct route to quick losses. Looking at the market sentiment, a sudden large order is even more terrifying. What looks like good news to retail investors is just a cash machine in the eyes of whales. I don't believe you, adding ZEC to a 20x long position—only a lunatic would dare to copy this combo.

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