On-Chain Data Shows: Whales Are Holding Out in Three Altcoins, Refusing to Sell Despite Significant Losses

Large positions in privacy-focused assets in cryptocurrency derivatives markets are under significant pressure. According to Coinbob’s tracking of popular addresses, addresses holding the largest whale positions in Hyperliquid—one of the three leading privacy cryptocurrencies, Zcash (ZEC), Monero (XMR), and Dash (DASH)—are currently facing significant unrealized losses.

Despite this, these whales have not yet chosen to close their positions or exit the market.

The most significant loss was seen in the largest long position on ZEC. The account 0xcf9 holds a long position of approximately $5.03 million in ZEC with 10x leverage. With an average entry price of $574, the unrealized loss has reached $6.68 million, representing a loss of approximately 294% and exceeding the principal amount. The liquidation price of the position is reportedly around $142.

Related News: Binance Releases Comprehensive Report on the Current State of Bitcoin: “The Bottom May Have Been Reached”

Account 0xc17, which holds the largest long position in XMR, presents a relatively more balanced picture. With 3x leverage, the investor has a position of $3.29 million, with an average cost of $384. Currently, they have an unrealized loss of approximately $350,000, or about 32%. It is also stated that the same account holds a long position in ZEC and has recently increased its positions in both ZEC and XMR to reduce costs.

On the DASH side, the account 0xd47 holds a $1.63 million long position with 5x leverage. Opened at an average cost of $64, this position has resulted in an unrealized loss of $1.34 million, representing approximately a 414% loss. It is reported that this account previously held the largest short position in ZEC and also incurred significant losses at that time.

*This is not investment advice.

Continue Reading: On-Chain Data Shows: Whales Are Holding Out in Three Altcoins, Refusing to Sell Despite Significant Losses