On-chain monitoring shows that well-known investor Ma Ji Da Ge has been very active recently, with the latest disclosed data indicating that he has once again opened a 10x leveraged long position in ZEC.

The current position composition of this large holder is quite aggressive: holding 9,500 ETH long positions with 25x leverage, 200 ZEC long positions with 10x leverage, and additionally allocated 41,888 HYPE. According to real-time calculations, the total market value has already exceeded 30 million USD, equivalent to over 220 million RMB.

What deserves more attention is the performance of the returns—just in the past week, the paper profit has reached $758,000 (approximately 5.5 million RMB). This newly added ZEC Position seems to indicate his continued optimism towards the privacy coin sector.

From a strategic perspective, this "high leverage + multi-currency diversification" approach carries a significant risk factor. On one hand, it can amplify gains when the market starts to rise; on the other hand, it also means that fluctuations will be magnified during a pullback. As a veteran privacy coin, ZEC has recently seen a resurgence in attention due to changes in the regulatory environment and expectations of technological upgrades, but leveraged trading is always a double-edged sword.

For ordinary investors, referring to the movements of large holders can serve as a window to observe market sentiment, but one must avoid blindly following their trades—factors such as capital size, risk tolerance, and stop-loss mechanisms need to be considered independently. What do you think of this wave of operations?