Address sold approximately $1.29 million worth of ZEC through Hyperliquid.

A wallet received roughly 1,060 ZEC—about $1.29 million—from a shielded address and routed the tokens through Hyperunit into Hyperliquid, where they were sold in three tranches for approximately 1.29 million USDC before the funds were withdrawn. The trade highlights how privacy-focused Zcash holdings are increasingly being moved onto perpetuals and spot venues like Hyperliquid for liquidity and price discovery. It also underscores Hyperunit’s role as a bridge for bringing non-native assets onto Hyperliquid. With the entire position converted to stablecoins and pulled out, traders will watch whether the wallet re-enters ZEC or rotates into other Hyperliquid markets, and whether similar shielded-address flows follow.