On January 23, data monitored by Hyperinsight showed that a well-known ZEC short-seller executed partial profit-taking on their ETH short positions, offloading 956.37 ETH shorts valued at approximately $3.13 million.
Despite this reduction, the remaining ETH short exposure still stands at $130 million, with a current unrealized profit of around $14.3 million, indicating continued bearish sentiment toward ETH.
Shifting Focus to DASH
Within half an hour after adjusting their ETH position, the address started aggressively adding DASH longs. It acquired 4,476.76 DASH worth approximately $44,000, increasing the total DASH long value to $1.85 million.
- Amount Invested: $44,000
- Total Holding: $1.85 million
- Timeframe: Within half an hour after ETH adjustment
A ZEC Shorting Legacy
This address gained notoriety for its massive short bet against ZEC, having initiated a short position when ZEC was trading at $184. Despite suffering a $21 million unrealized loss at one point, the trader eventually turned the position into a profit.