Trader Sets $740 Target in $9.5M Zcash Long Position

A trader identified as 0x535e has opened a 10x long position on 17,137 units of Zcash (ZEC), valued at roughly $9.57 million, according to blockchain data from Lookonchain.

The position includes a liquidation level at $537.56, along with staggered take-profit orders ranging from $545.19 up to $740.37. Lookonchain noted that if ZEC reaches the upper target, the trade could generate an estimated profit of about $7.6 million.

At the time of reporting, Zcash is trading near $543.93, marking a 3.1% gain over the past 24 hours.