Zcash nears $1,500! Garrett Jin is down $30 million, the 26-win trader with $9 million in profits is close to liquidation—this is the shorts’ “bloody week”
On September 18, ZEC broke through $1,500 to set a ten-year high, up 215% from the $470 level in mid-August. Its market cap reached $25.5 billion and it entered the top ten of crypto.
This wave of independent momentum is driven by four overlapping factors:
Regulated channel opened: Grayscale’s spot Zcash ETF (ZCSH) began trading on the NYSE Arca on August 25. In less than a month, its assets reached $890 million, and after strong demand it completed a 3-for-1 share split.
Technical upgrade delivered: The NU7 proposal passed with 99.9% support. The block interval was shortened from 75 seconds to 25 seconds—boosting throughput while preserving the halving mechanism and deflationary characteristics.
Top-tier institutional endorsement: Matt Huang, co-founder of Paradigm, called ZEC “a privacy complement to Bitcoin” and disclosed institutional holdings.
Privacy features truly adopted: About 31% of circulating supply flows into the shielded pool (up from just 11% a year earlier), proving the narrative has shifted from concept to real-world use.
Two incidents involving well-known traders on the Hyperliquid platform:
Garrett Jin: The whale with a floating loss of $30 million is the platform’s largest ZEC short. He holds around 37,760 ZEC short positions, with the floating loss already widening to about $30 million. To support the position, he transferred 35,001 ETH from Binance (about $85 million) into additional margin, pushing his liquidation price as high as $2,631. This is not his first failure—back in November 2025, he shorted ZEC with 10x leverage, with a floating loss of over $22.04 million and a liquidation price of $1,358.
26-win trader: The trader who logged 26 consecutive wins, a 89% win rate across 47 trades, and cumulative profits of $9 million saw all profits wiped out after shorting ZEC. He holds 12,285 ZEC short positions (about $18.31 million). His liquidation price is only $1,550.66; when ZEC hit $1,483, it was only about $7 away from liquidation.
These two cases reveal the same rule: In high-leverage trading, one mistake can erase a hundred correct trades. Garrett Jin’s issue wasn’t that he got the direction wrong—it was that he refused to cut losses and backed the error with more capital.
#Zcash现货ETF月度净流入超2.3亿美元 $ZEC
On September 18, ZEC broke through $1,500 to set a ten-year high, up 215% from the $470 level in mid-August. Its market cap reached $25.5 billion and it entered the top ten of crypto.
This wave of independent momentum is driven by four overlapping factors:
Regulated channel opened: Grayscale’s spot Zcash ETF (ZCSH) began trading on the NYSE Arca on August 25. In less than a month, its assets reached $890 million, and after strong demand it completed a 3-for-1 share split.
Technical upgrade delivered: The NU7 proposal passed with 99.9% support. The block interval was shortened from 75 seconds to 25 seconds—boosting throughput while preserving the halving mechanism and deflationary characteristics.
Top-tier institutional endorsement: Matt Huang, co-founder of Paradigm, called ZEC “a privacy complement to Bitcoin” and disclosed institutional holdings.
Privacy features truly adopted: About 31% of circulating supply flows into the shielded pool (up from just 11% a year earlier), proving the narrative has shifted from concept to real-world use.
Two incidents involving well-known traders on the Hyperliquid platform:
Garrett Jin: The whale with a floating loss of $30 million is the platform’s largest ZEC short. He holds around 37,760 ZEC short positions, with the floating loss already widening to about $30 million. To support the position, he transferred 35,001 ETH from Binance (about $85 million) into additional margin, pushing his liquidation price as high as $2,631. This is not his first failure—back in November 2025, he shorted ZEC with 10x leverage, with a floating loss of over $22.04 million and a liquidation price of $1,358.
26-win trader: The trader who logged 26 consecutive wins, a 89% win rate across 47 trades, and cumulative profits of $9 million saw all profits wiped out after shorting ZEC. He holds 12,285 ZEC short positions (about $18.31 million). His liquidation price is only $1,550.66; when ZEC hit $1,483, it was only about $7 away from liquidation.
These two cases reveal the same rule: In high-leverage trading, one mistake can erase a hundred correct trades. Garrett Jin’s issue wasn’t that he got the direction wrong—it was that he refused to cut losses and backed the error with more capital.
#Zcash现货ETF月度净流入超2.3亿美元 $ZEC
