ZEC whale loses $890,000 after 10x short is liquidated

  • A whale opened a 10x short position on 8,120 ZEC before the rate decision.
  • $10.11 million was the approximate value of the position at about $1,245 per ZEC.
  • Three hours later, ZEC rose above $1,390 and the position was fully liquidated.

A whale opened a 10x leveraged short on 8,120 ZEC before the Federal Reserve rate decision. The position was worth about $10.11 million when opened at approximately $1,245 per ZEC around 11 p.m. The cryptocurrency later rose above $1,390, triggering full liquidation about three hours later and leaving the trader with an estimated loss of $890,000, blockchain analyst Ember said.

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