Whale Investor Profits $3.2M in Zcash Trades
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Whale Trading Dynamics: A whale investor realized a profit of $3.2 million by closing a long position in Zcash (ZEC), but shortly after incurred a loss of $1.6 million on a short position, effectively halving their previous gains and highlighting the risks associated with market volatility.
- Historical Loss Review: This investor previously faced a staggering loss of $7.7 million in Bitcoin (BTC) transactions, bringing their total net loss to $5.56 million with the recent ZEC trades, reflecting an unstable performance in the cryptocurrency market.
- Market Activity Observation: Other whale investors are also actively trading, with one address currently holding around $300,000 in profit from a short position in LIT, which has a total size of $9.35 million and an average cost of $2.71, indicating diverse strategies among market participants.
- Short Position Expansion: This address has also opened a new short position in ZEC worth approximately $1 million today, becoming the largest short seller of LIT on the Hyperliquid platform, suggesting a divergence in market sentiment regarding the future trajectory of ZEC.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
