Garrett Jin Adds to 39,760-ZEC Short as Zcash Rally Pressures Bears

  • Garrett Jin added 7,000 ZEC to his short position, raising exposure to 39,760 ZEC.
  • Jin's 39,760-ZEC short was worth over $47 million and showed over $24 million unrealized losses.
  • Trader 0x362a's 15,785-ZEC short showed a $5.27 million loss after three days.

Garrett Jin, identified by Lookonchain as the trader behind the largest tracked onchain ZEC short, added 7,000 ZEC worth about $8.4 million to the position despite unrealized losses exceeding $24 million. His reported short exposure now totals 39,760 ZEC, with a nominal value above $47 million and a liquidation price of $2,292. Zcash traded at $1,176, up 1.2% over 24 hours and 44.1% for the week after surpassing $1,000 for the first time since 2016. The token reached $1,254 on Sunday, and a rise to Jin's reported liquidation threshold would represent a further 95% gain from the cited price. Separately, trader 0x362a's 15,785-ZEC cross-margin short showed a $5.27 million loss after three days. Earlier reports said the position faced liquidation at $1,316.95 and that Jin had closed a 1,331-BTC long for a realized $1.02 million profit.

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