According to on-chain analyst Ember (@EmberCN), ZEC’s price surged above $1,200, causing significant losses for the whale entity Garrett Jin. This entity opened a short position of 32,760 ZEC at an average price of $444 in early July. As ZEC skyrocketed from $400 to over $1,200 within three months, the current unrealized loss has reached $25.7 million. Additionally, the entity holds a long BTC position worth $107 million, which has generated an unrealized profit of $4.42 million but has cumulatively paid $2.05 million in funding fees.
Garrett Jin Whale Entity Suffers $25.7M Floating Loss from ZEC Short Position
TechFlowShare
Summary
Whale activity tied to Garrett Jin has resulted in a $25.7 million unrealized loss from a ZEC short position. The whale opened a 32,760 ZEC short at $444 in early July as ZEC rose above $1,200. Whale activity also reveals a $107 million BTC long position with a $4.42 million profit, though $2.05 million in funding fees have been paid.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.