The largest unrealized loss on a short position in ZEC on Hyperliquid has exceeded $22.04 million.

According to Mars Finance, on November 17th, on-chain analyst Ai Yi (@ai_9684xtpa) reported that the largest short position holder of ZEC on Hyperliquid has suffered a floating loss exceeding $22.04 million. With ZEC breaking through $700 again, the 60,870.43 ZEC short positions held by this address have suffered heavy losses, even after reducing its position size. The latest liquidation price is $1,112.45. This largest ZEC short holder on Hyperliquid has been holding these positions for over a month, and yesterday morning transferred another 5 million USDC to the account to increase margin. This address started its ZEC short position on October 11th, continuously adding to its position during price increases to average down its cost.