'BTC OG Insider Whale' Shorts 57,000 ZEC, Floating Loss Reaches $1.9 Million

BlockBeats reports that on May 25, according to Coinbob's popular address monitoring, the address associated with the 'BTC OG Insider Whale' has opened a ZEC short position with 3x leverage, holding 57,400 ZEC, valued at approximately $37.88 million, with an average entry price of $626.4. Due to the rise in ZEC prices over the weekend, this short position has incurred a floating loss of $1.9 million. Notably, the same address also holds an equivalent-sized BTC long position with 5x leverage, with an average entry price of $77,394, currently showing a slight floating loss of $80,000. This position structure may indicate a ZEC/BTC spread trade (anticipating ZEC to weaken relative to BTC). Additionally, in the spot market, this whale has accumulated approximately 148,000 HYPE, valued at around $9.12 million. Address: 0x92ea19eceb7a8de0f50978a1583a5d8b018050e9 [Original Link]