From $444 all the way to $1200! Giant Whale suffered a loss of 25.7 million US dollars, while on the other hand, it is still betting 107 million BTC on multiple orders

ZEC continues to soar, but a giant whale has become one of the most injured bears in this round of market. According to on chain analysis and monitoring, the address marked as "Garrett Jin Whale Entity" shorted 32760 ZECs at an average price of approximately $444 in early July. Subsequently, ZEC continued to rise from around $400 and has now surpassed $1200, with a nearly 200% increase in just a few months. The unrealized loss of this short position has expanded to approximately $25.7 million. What is more noteworthy is that this whale is not completely bearish on the market. The data shows that it also holds multiple BTC orders worth approximately $107 million on the other side, with a current book profit of approximately $4.42 million. However, in order to maintain this BTC long position, the accumulated capital fees paid have reached approximately $2.05 million. This means that the same whale is simultaneously experiencing two completely different outcomes: while BTC long orders remain profitable, the profit scale is far from enough to cover the floating losses of ZEC short orders exceeding $25 million. The sustained strong rise of ZEC in recent times has also rapidly increased bearish pressure. For high leverage trading, the more the price rises against the trend, the less short positions, stop losses, or even passive liquidation may further form buying orders, amplifying short-term fluctuations. It should be noted that the current $25.7 million is still a floating loss rather than a realized loss, and it remains to be observed whether the position will be reduced, closed, or continue to carry orders in the future. Meanwhile, the identity of the 'Garrett Jin entity' comes from the attribution of the relevant addresses by on chain analysts, rather than being publicly confirmed by the wallet controller himself. From $444 to over $1200, the floating loss of $25.7 million continues to fluctuate; On the other hand, they still hold multiple BTC orders worth 107 million US dollars. Whether this giant whale will continue to hold onto ZEC short positions or ultimately recognize losses and leave the market may become a signal worth paying attention to in this round of ZEC market. If you want to track the real-time flow of ZEC funds, changes in market positions, and market hotspots, you can register OKX through the AiCoin cooperation portal: 👉 https://jump.do/zh-Hans/xlink?checkProxy=true&proxyId=2 Risk Warning: The views, conclusions, and recommendations presented in this article are for reference only and do not constitute investment advice. The market is risky, and investment needs to be cautious.