Crypto
Zcash Whale's $46 Million Short Position Set to Spark Price Action
A Zcash whale's short position of approximately $46.65 million could face liquidation pressure if the token reaches $2,540.28.
This is because Garrett Jin reportedly shifted his focus to shorting ZEC after closing his entire 1,332 BTC long for a $2.7 million profit.
The bigger question is whether Zcash can break its previous peak of $1,250 and enter price discovery again.
If the token reaches that level, the short could face liquidation pressure, but it doesn't guarantee a rally or a big collapse immediately.