Zcash Whale's $9.98M Gain Outshines $2.6M ETH Loss

A Zcash whale has accumulated an unrealized gain of $9.98 million on a long position in ZEC, according to blockchain data.

The whale's address shows that they opened a 9,810-coin long position near $517.68 one month ago, which would be worth around $5.1 million at current prices.

This is not the only bet held by this trader, as they also have a short position in ETH, with a loss of $2.6 million on 3,550 coins sold at an average price of around $730 per coin.

The ZEC price is currently trending upwards on the 4-hour chart, above both the EMA50 and EMA200 lines. The MACD indicator has printed a golden cross, indicating a potential trend reversal.