Trader 0xb63 Holds $2.57M Unrealized Profit from Bitcoin Short, Opens ZEC Long

Arkham reports trader 0xb63 built a $22.3M leveraged Zcash short following a $700 price retest, with unrealized gains now exceeding $3.6M.

BTC

ZEC

130d ago

Summary

Arkham disclosed that trader wallet address 0xb63 invested $22.3 million to establish a large short position in Zcash (ZEC) after the cryptocurrency retested the $700 price level two days ago. The position has since generated $3.6 million in unrealized profit. This follows previous high-leverage trading activity, including a $19.26M ZEC short on Nov. 18 and significant Bitcoin shorts earlier in November.

Terms & Concepts

ZEC: The native cryptocurrency of Zcash, a privacy-focused blockchain providing enhanced transaction confidentiality.
Short position: A trading strategy aiming to profit from a decline in an asset’s price by selling it beforehand and buying it back later at a lower price.
Unrealized profit: Potential gains from an open position that have not yet been secured by closing the trade.