<b>Trader Banks Big on ZEC and HYPE, Then Takes on Ethereum with $38.6M Leveraged Bet</b>

A high-profile trader has made headlines in the cryptocurrency space after generating over $7.5 million in profit from two positions on the Hyperliquid platform.

The trader, known as 'Evaded,' took advantage of significant price movements in tokens ZEC and HYPE to make a substantial return.

ZEC surged 30% following the SEC's decision to close its investigation into the Zcash Foundation, while HYPE benefited from the launch of a Bitwise ETF and sustained accumulation from venture capital firm a16z-linked wallets.

However, Evaded has chosen not to cash in on these gains, instead using them to open a new position – a long on ETH worth $38.63 million with 25x leverage.

This high-risk strategy carries the potential for significant losses if prices move against Evaded's position, and market analysts have noted that a brief flash crash or sharp ether selloff could trigger automatic liquidation at this level of leverage.