Odaily reported, citing monitoring by Onchain Lens, that Garrett Jin, identified as The Bitcoin OG 10/11 with the address label 0x92e...50e9, has further increased his leveraged long position in ZEC. The 2x ZEC long has now grown to 46,013 ZEC, with a reported value of $19.3 million. The position is currently showing more than $950,000 in unrealized losses.
The same monitoring data shows that Garrett Jin continues to hold a 5x long position in BTC totaling 1,268 BTC. That Bitcoin long position is currently carrying more than $14.86 million in unrealized losses. A long position refers to a trade that benefits from a rise in the underlying asset’s price, while leverage increases the nominal exposure of the position and magnifies changes in unrealized profit and loss. Unrealized loss refers to the paper loss displayed before a position is closed.