Back
Garrett Jin expands 2x leveraged ZEC long to $19.3 million

Garrett Jin expands 2x leveraged ZEC long to $19.3 million

After adding to his ZEC position, Garrett Jin’s BTC and ZEC longs topped $101 million on June 14; by June 15, a Zcash rebound turned the ZEC leg into more than $4.7 million in unrealized profit.

BTC
ZEC

Fact Check
Every component of the claim is confirmed by primary on-chain monitoring and independent outlets. The Onchain Lens X post and BlockBeats confirm the 2x ZEC long expanded to 46,013 ZEC (~$19.3M). PANews citing analyst Ai_9684xtpa confirms the combined BTC+ZEC position exceeded $101 million on June 14. A June 15 BlockBeats report confirms the ZEC leg turned to >$4.7M unrealized profit after a Zcash rebound (to ~$530). The only minor nuance is that the overall position remained at a net loss due to the BTC leg, but each specific figure in the claim is accurate.
Summary

Garrett Jin added to his 2x leveraged ZEC long on June 14, taking the position to about 46,013.17 ZEC entered at $440.7 and lifting the combined value of his BTC and ZEC longs above $101 million, according to Ai Yi as cited by PANews. At that point, Ai Yi said the two positions showed a combined unrealized loss of $15.43 million, including a $759,000 unrealized loss on ZEC and a larger loss on Jin’s 5x BTC long of 1,268.33 BTC worth $81.82 million entered at $76,117. On June 15, after Zcash rose above $530, OnchainLens said Jin’s 2x ZEC long had swung to more than $4.7 million in unrealized profit, while his 5x Bitcoin long still showed about a $12.55 million unrealized loss.

Terms & Concepts
  • leveraged long positions: Trades that use borrowed exposure to bet on a price increase, magnifying both gains and losses.
  • unrealized profit: A paper gain on an open position that has not yet been realized.
  • ZEC: The native token of Zcash.