On January 8th, ZEC experienced an interesting wave of movement. The price briefly dropped 6.4%, reaching a low of $449, then quickly rebounded to around $465.

What attracted the most attention in this fluctuation was the operation of the top bullish whale (0x152) on Hyperliquid. His holdings once turned from profit to loss, but he reacted quickly—decisively adding T around $459, increasing his position by 2,486 ZEC in just 10 minutes, worth $1.14 million. Even more impressive, over the past 20 hours, he has accumulated a total of 9,871 ZEC, investing a total of $4.54 million. Currently, this guy holds a long ZEC position with 10x leverage, with a total size of about $12.35 million and an average cost of $463.

On the flip side, the so-called "ZEC maximum short" whale is not having a good time now. His position size is $17.48 million, with an average cost of $419, and an unrealized loss of $1.64 million (down 47%). The key point is that this old guy hasn't adjusted his position much recently and is still holding on tightly.

Even more dramatic is the "Shanzhai Short Army Leader," who has been continuously adding to his short positions in the past few hours, pushing the ZEC short position to $2.08 million, and still increasing his holdings. Both bulls and bears are testing each other, and this showdown is far from over.