A whale that had held a short position in ZEC for nearly half a month closed the trade after the token briefly climbed to $1,584 on the morning of Sept. 19, according to monitoring by EmberCN cited by BlockBeats. The address exited a ZEC short worth about $24.43 million at around $1,548, locking in a loss of roughly $10.68 million. EmberCN said the position’s liquidation price was $1,551. With ZEC moving close to that level, the trader chose to close the position rather than risk forced liquidation. The loss sharply reversed the trader’s prior gains. Before this trade, the account had accumulated about $9.11 million in profit since June and posted a historical win rate of 79%. After the failed ZEC short, nearly all of those earlier profits were wiped out.
A whale that had been holding a ZEC short for nearly half a month closed the position after ZEC briefly rose to $1,584 on the morning of Sept. 19, according to EmberCN monitoring cited by BlockBeats.
The address closed a ZEC short worth about $24.43 million at around $1,548, ending the trade with a loss of roughly $10.68 million.
EmberCN said the position’s liquidation price was $1,551. As ZEC moved close to that threshold, the whale chose to close the trade to avoid forced liquidation.
Before this loss, the trader had accumulated about $9.11 million in profit since June and recorded a historical win rate of 79%. The failed ZEC short erased nearly all of those earlier gains.
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