These days, the operation of a well-known major holder has once again made headlines. According to on-chain data, this trader opened a 10x leveraged long position in ZEC, with a position size reaching $350,000, and the entry price around $378.9.

Upon closer inspection, this guy's position setup is indeed aggressive. In addition to the leveraged ZEC long, he also holds a $34 million ETH long position (entry price $3,138), along with a $2.5 million HYPE long. This combination clearly indicates he's betting on the arrival of the altcoin season.

Honestly, watching this kind of operation makes people a bit nervous. Playing ZEC with 10x leverage is already risky, and with a multi-million dollar Ethereum position, the pace definitely has a bit of an all-in vibe. However, big players are usually quite perceptive, and their moves often reflect market sentiment. The issue is, following such large positions also means bearing the corresponding volatility. Increase the leverage, and the fluctuations are amplified infinitely.

Interestingly, ZEC hasn't been very hot in the market recently, yet it suddenly attracted the attention of a major holder. Is there a story behind this? Also, with such a large ETH position, how should we interpret it? Are they optimistic about the upcoming market, or is there some other logic?

What do you all think about this strategic move? Share your thoughts in the comments.