ZEC is still forcing a short squeeze—this morning it directly broke above $1,500.
The most uncomfortable part is probably the largest short holder, the “Garrett Jin whale entity.” Its unrealized losses have already reached $30 million.
What’s even more worth watching is that this entity withdrew 35,000 ETH from Binance last night, worth about $85.11 million. So far, it hasn’t moved.
One thing is that the more the ZEC short position loses, the more it losses; the other is that $85+ million worth of ETH is just sitting in the wallet.
How these 35,000 ETH are handled next may be even more interesting than this ZEC short position.#Paradigm披露持有ZEC $ZEC
The most uncomfortable part is probably the largest short holder, the “Garrett Jin whale entity.” Its unrealized losses have already reached $30 million.
What’s even more worth watching is that this entity withdrew 35,000 ETH from Binance last night, worth about $85.11 million. So far, it hasn’t moved.
One thing is that the more the ZEC short position loses, the more it losses; the other is that $85+ million worth of ETH is just sitting in the wallet.
How these 35,000 ETH are handled next may be even more interesting than this ZEC short position.#Paradigm披露持有ZEC $ZEC