According to on-chain analyst Ember (@EmberCN), the [Garrett Jin whale entity] added 7,000 ZEC (approximately $8.4 million) in short positions as ZEC price rose to $1,195, increasing its total short position to 39,760 ZEC (approximately $47 million). The average short entry price rose from $444 to $576.30, resulting in an unrealized loss of approximately $24 million. The entity initially opened a short position of 32,760 ZEC at $444 in early July, when ZEC was trading below $400; today, ZEC has surged above $1,200, posting a more than 200% gain over three months, placing continued pressure on the short positions.
Garrett Jin Whale Entity Adds ZEC Short Position, Floating Loss Reaches $24M
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Summary
Whale activity shows the Garrett Jin Whale Entity added 7,000 ZEC (approximately $8.4M) in short positions at $1,195, raising total shorts to 39,760 ZEC ($47M). The average short entry price increased from $444 to $576.3, resulting in a floating loss of $24M. Initially, 32,760 ZEC in short positions were opened in early July at $444. Since then, ZEC has surged over 200% to $1,200, increasing pressure on the position.
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