The largest ZEC long position has been cut at a loss of 300%, ten days ago it was accumulated with a scale of $8.5 million. Hyperliquid early contributor Loracle built a ZEC long position with 10x leverage on February 15, totaling $8.5 million, becoming the largest on-chain long. Currently, ZEC price has fallen to $237, with a loss of 316%, and the position has begun to be reduced, with holdings now down to $1.14 million. According to BlockBeats, on February 24, monitoring of popular addresses on Coinbob showed that "Hyperliquid early contributor Loracle" heavily built a ZEC long position with 10x leverage on February 15, attempting to bottom fish. At that time, their position once reached $8.5 million, with an average price of $312, making it the largest on-chain ZEC long. Ten days later, today, ZEC is temporarily at $237, and this position's loss has expanded to 316%. Facing huge unrealized losses, this address started cutting losses last night and this morning, continuously reducing ZEC longs. As of now, their position has sharply decreased to $1.14 million, and they are still actively reducing holdings at press time. Loracle (X: loraclexyz), formerly Laurent Zeimes, is active in the Hyperliquid ecosystem and is regarded as one of the early contributors. He is the founder of Hypurrfun and has recently been active in Hyperliquid's contract market.