$ZEC Shorts have been taken out again.

Not a small loss.
A single trade lost 6.54 million.
Total loss approaching 10 million.
Privacy coins are really fierce this wave 🩸
Whale 0x320 has completely closed out the $ZEC short position.
The result is very grim:
This ZEC short lost about 6.54 million USD.
The overall account loss has already approached 9.6 million USD.
This also shows that the recent ZEC surge,
is definitely not just a normal rebound.
Many people initially thought:
Privacy coins have no narrative left.
They rose too fast.
They would definitely pull back.
But instead, they kept rising the more they were shorted.
Especially ZEC:
Its circulating supply isn't very large,
and the concentration of holdings is high,
once funds start pushing,
the volatility can be very exaggerated.
The most dangerous part now is:
many shorts have already started to be educated.
And the market’s favorite thing is:
to squeeze out the last batch of disobedient shorts as well.
So recently, ZEC’s movement is no longer just a fundamental issue,
but more like:
liquidity + squeeze + emotional resonance.
Now the question is:
after a big short like 0x320 admits defeat,
will ZEC continue to accelerate,
or has the fuel almost burned out? 👀$ZEC ‌#Gate广场五月交易分享