On-chain data from analyst Ember shows that a whale entity linked to Garrett Jin holds the largest ZEC native short position. The entity shorted 32,760 ZEC in early July at $444. With ZEC surging from $400 to over $1,200 in three months, the short is underwater by $25.7 million. Meanwhile, the same entity also holds a $107 million BTC long position with $4.42 million unrealized profit, but has already paid $2.05 million in funding fees.
According to on-chain analyst Ember, a whale entity (0x92ea...050e9) associated with Garrett Jin is the largest holder of Zcash native short positions. The entity opened a short of 32,760 ZEC in early July at an average price of $444.
Over the past three months, ZEC's price has rallied from around $400 to over $1,200, pushing the short into a floating loss of $25.7 million.
Meanwhile, the same entity also holds a $107 million long position in Bitcoin, which is currently showing an unrealized gain of $4.42 million. However, it has already paid $2.05 million in funding costs for the positions.
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