Zcash (ZEC) surged past the $500 mark on December 28, driven by significant whale activity. A notable 3x long position resulted in over $5 million in profit, according to Onchain Lens. Despite this gain, the whale's overall portfolio remains down by more than $2 million, underscoring the high-risk, high-reward nature of position trading strategies. This development highlights the concentrated risks and potential rewards in the cryptocurrency market.