「ZEC's Biggest Shorter」 Reloads with ample ammunition, Deadlocks again, Boosts Position to 12 million, Flattening Unrealized Losses
BlockBeats News, May 6th, according to Hyperinsight monitoring, during a significant price surge of ZEC, the "ZEC Largest Short" was once again forced to employ the same tactics, restarting the adding to short positions to liquidate strategy. Today, it continues to increase its short positions at a rate of approximately 2,000 coins per hour (around $1 million).
The additional shorting continued until four hours ago, and the size of the short position has now increased to $12.6 million, with an average price of $461, resulting in an unrealized loss of about $2.4 million. This round of shorting was initiated on March 10th at an entry price of around $210, coincidentally near a recent swing low.
This address gained its name from its actions on October 10th last year when it shorted ZEC at an opening price of $184 and consistently added to the short positions, raising the average price. The unrealized loss on the position once reached as high as $21 million, but with sufficient funds, the average price was continuously adjusted down to $419, ultimately recovering from the position in December.
Address: 0xd47587702a91731dc1089b5db0932cf820151a91
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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