Garrett Jin's $47M Zcash Short Position Sinks Deeper as Price Rises

Garrett Jin, a trader known for his profitable Zcash short trades in the past, has significantly increased his short position on Hyperliquid. The latest move adds 39,760 ZEC to his existing short position, making it worth about $47.22 million.

The liquidation price of this new position is set at $2,292, which means that if the price of Zcash drops below this level, Jin's position will be automatically closed and he will incur a loss.

Jin has previously made over $11 million from his ZEC short trades, but his current position faces significant unrealized losses as Zcash continues to rally. The token has surged from levels below $1,000, leaving Jin's short position deeply underwater.