G-Cash fell 9.76% from midnight on the 9th... 22 addresses with $1 million longs incur unrealized losses

Zcash (ZEC) fell about 9.76% from 00:00 on the 9th to roughly $1,147.6 on Hyperliquid, sitting 32.29% below its September 27 high of $1,695 and 17.50% under its November 6 rebound peak of $1,391. Of 28 Hyperliquid addresses holding long positions above $1 million, 22—about 78.6%—are underwater, with combined unrealized losses of roughly $10.89 million, while the remaining six stay in profit. The drawdown highlights how leveraged longs on the privacy-focused token are absorbing losses after its recent pullback from multi-month highs. Traders will watch whether ZEC holds above the $1,100 area and whether further declines force more of these large long addresses to cut positions or add margin.