According to Onchain Lens, ZEC dropped below $400 due to the Orchard Pool vulnerability. Garrett Jin, known as "Whale 1011," has an unrealized profit of over $13.5 million on his 3x leveraged ZEC short position, while his 5x leveraged BTC long position has an unrealized loss of over $17 million.
Garrett Jin's ZEC short position gains $13.5M amid price decline
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Summary
ZEC dropped below $400 as the Orchard Pool vulnerability surfaced, pressuring BTC’s price lower. Garrett Jin’s 3x ZEC short position gained over $13.5 million in unrealized profits, while his 5x BTC long position lost more than $17 million. Crypto price swings remain volatile amid ongoing market turbulence.
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