"BTC OG Insider Whale" Shorts 57k ZEC, Unrealized Losses Reach $1.9 Million
BlockBeats News, May 25th, according to Coinbob's hot address monitoring, the "BTC OG insider whale" associated address is currently holding a ZEC short position with 3x leverage, holding 57.4k ZEC, worth approximately $37.88 million, with an average entry price of $626.4. Due to the weekend's rise in ZEC price, this short position has an unrealized loss of $1.9 million.
It is worth noting that this address also holds an equivalent size of BTC long positions with 5x leverage, with an average entry price of $77,394, currently with a slight unrealized loss of $80k. This position structure may indicate a ZEC/BTC spread trade (expecting ZEC to weaken relative to BTC).
Additionally, in the spot holdings, the whale has accumulated approximately 148k coins.