- Trader opens $2.73M 10x short on ZEC.
- Previously lost over $30M after a 14-win streak.
- Liquidation price for the new position is $727.45.
A well-known on-chain trader, identified by wallet address 0xc2a3, has opened a massive short position on Zcash (ZEC), raising eyebrows across the crypto community. The trader placed a 10x leveraged short worth $2.73 million on 4,400 ZEC tokens.
This isn’t just another trade — it’s the latest move from a figure once admired for a 14-trade winning streak, only to suffer a crushing reversal, reportedly losing over $30 million in subsequent positions. Now, with this bold short, the trader appears to be making a comeback — or repeating history.
High Leverage, High Risk
At 10x leverage, the position is extremely volatile. The liquidation price is set at $727.45, a significant distance from ZEC’s current market price, suggesting the trader expects serious downside in Zcash soon.
Leverage this high magnifies both gains and losses. If ZEC climbs unexpectedly, the trader could face another heavy blow. But if the prediction is accurate, it could mark a stunning return to form.
What It Means for ZEC and the Market
This move could signal bearish sentiment around ZEC, especially among high-risk traders. While this may not reflect fundamentals, such large positions can influence market behavior in the short term.
Zcash, known for its privacy features, hasn’t made major headlines lately, but whale activity like this could stir volatility. Traders and investors should watch ZEC closely in the coming days — particularly around that $727 mark.
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