Zcash Latest Updates: Calm Whale's Bold Move: Gains $4.8M Despite $4M ZEC Deficit
A well-known cryptocurrency trader, referred to as the "Cool-headed Whale," has reduced their short position in Zcoin (ZEC), yet the total unrealized losses across their short trades have
This trader is known for employing high-leverage, high-risk strategies. Earlier in the month, the same account suffered a $2.97 million loss after a $120 million
The "Cool-headed Whale" is no stranger to turbulent trading. In October, the trader closed out a $6.89 million BTC short and later made smaller profits by day trading BTC, ETH, and XRP. Their capital expanded from $3 million to more than $30 million within two months, drawing attention from market observers who have noted a tendency to "buy the dip" following significant losses
Elsewhere, broader market trends highlight the dangers of leveraged shorting. Another trader entered a $27 million XRP short with 20x leverage, coinciding with whale activity that drove nearly 42% of XRP’s supply into negative profit.
The ZEC market has also exhibited mixed signals. On November 23, a trader identified as 0x152e exited a ZEC long for an $846,000 loss, then switched to a 5x leveraged short of 4,574.87 ZEC ($2.66 million) while simultaneously opening a 20x BTC long valued at $31.63 million, underscoring the sector’s intense volatility.
Despite these challenges, the "Cool-headed Whale" still holds a total profit of $4.8 million from trading, though their ZEC and BTC shorts remain vulnerable to market fluctuations. The trader’s approach mirrors a broader movement among both institutional and retail participants who use derivatives to speculate on crypto price directions, even as liquidation events become more common amid sharp price changes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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