In-Depth Analysis: Trader Reduces Short Position in ZEC After Significant Profit

Trader Reduces ZEC Short Position, Realizes Significant Profit

According to the latest data from Hyperinsight, a trader consistently focused on shorting ZEC (address 0x7eb90) partially reduced their position on January 12, realizing a profit of $288,300.

Despite the reduction, the trader maintains a leveraged short position of 3,000 ZEC, worth approximately $1.18 million, with an average entry price of $472.91. The position is currently showing unrealized gains of $230,000.

Consistent Bearish Outlook on ZEC, Historical Performance

Notably, this trader had previously shorted ZEC seven times without ever going long. Earlier trades were not as successful, with cumulative losses reaching $508,000.

This latest profit suggests the trader may have refined their strategy or better timed the market, sparking further discussion about the future trajectory of ZEC's price.