'ZEC's Largest Bear' Continues to Average Down HYPE Short Positions, Adds Over $4 Million in a Short Time

BlockBeats news, on February 4, according to Hyperinsight monitoring, the address of 'ZEC's largest bear' (0xd475…) averaged down its HYPE short positions consecutively within two minutes, adding a total of 119,470.37 HYPE shorts, with a total value of approximately $4.1354 million. The address first added 58,431.91 HYPE (approximately $2.011 million) at 11:21, and then added another 61,038.46 HYPE (approximately $2.1245 million) at 11:23. After these two rounds of averaging down, the total value of its HYPE short positions increased to $11.4743 million. However, the current floating loss remains around $1.4174 million, with a loss rate of approximately 61.47%. The average holding price has risen to $29.08, and the liquidation price is $98.65. This address is known for establishing large-scale short positions on ZEC, having started shorting ZEC at a price of $184. At one point, it faced a floating loss of $21 million but later turned profitable.