ZEC Trader Posts Multi-Million Dollar Loss Amid Market Shifts
Garrett Jin, a well-known trader, closed his short position on ZEC after three months, resulting in a significant loss of $36.13 million. This move comes as Bitmine has managed to narrow its losses to $2.71 billion, despite holding nearly 5.96 million ETH.
The total market capitalization of cryptocurrencies has returned to $2.8 trillion, approaching the high mark of $2.9 trillion. Meanwhile, Kraken has joined X's Cashtag program, which will likely impact trading entry points.
In a separate development, Federal Reserve member Kashkari stated that inflation remains too high, attributing it not solely to oil prices. Additionally, Visa announced plans to close a loophole in credit card rewards for meme coins.
The US Treasury has sanctioned the Iranian exchange BitBank, and hundreds of millions of dollars in Bitcoin have been transferred to the IRGC. GMGN generated $17.34 million in fee revenue by transferring 23,550 BNB to Pionex in a week. Strive's CEO hinted that holdings may surpass 25,000 Bitcoins and that a new round of purchases could be announced.
StonkFun earned $4.85 million in revenue over the past week, ranking it 10th in protocol revenue.