$ZEC update
Jiang Zhuoer Says ZEC Rally May Be Nearing Its End After Price Drops to $1,445
LaiBit mining pool founder Jiang Zhuoer said ZEC fell to $1,445 after Garrett Jin previously shorted ZEC and drew market skepticism over whether he was deliberately creating a counterparty to attract retail longs. According to ChainCatcher, Jiang said Jin’s disclosure of a large spot position removed that target, while his roughly 200,000 ZEC holdings, about 1% of total supply, could become potential selling pressure.
Jiang said this suggests the current ZEC rally may be close to ending. He added that, in trading a token he described as being controlled by major holders, he would be at an information disadvantage versus counterparties and would not participate in the trade
Jiang Zhuoer Says ZEC Rally May Be Nearing Its End After Price Drops to $1,445
LaiBit mining pool founder Jiang Zhuoer said ZEC fell to $1,445 after Garrett Jin previously shorted ZEC and drew market skepticism over whether he was deliberately creating a counterparty to attract retail longs. According to ChainCatcher, Jiang said Jin’s disclosure of a large spot position removed that target, while his roughly 200,000 ZEC holdings, about 1% of total supply, could become potential selling pressure.
Jiang said this suggests the current ZEC rally may be close to ending. He added that, in trading a token he described as being controlled by major holders, he would be at an information disadvantage versus counterparties and would not participate in the trade