Former ZEC Bear Resumes Short Position with $1.1M in Bets

According to Hyperinsight monitoring, on Jan 28, a well-known bearish address (0xd475…) has re-entered the ZEC market with a new short position. The account now holds approximately 2,822 ZEC in short bets, valued at around $1.1M, with 5x leverage. The average entry price was at $391.

This short bet is currently in minor loss, but the address continues to add to its position. Previously, this same entity started shorting ZEC when prices were around $184, enduring floating losses of up to $21M before eventually turning profitable and closing the position.

In addition, the account currently holds approximately $80M in short positions on Ethereum (ETH), indicating a continued bearish outlook on the broader crypto market.