Gate News reports that on March 18, according to Hyperinsight monitoring, a certain on-chain address (0xd475…) added to its ZEC short position again last night and this morning (from the night of March 17 to the morning of March 18), approximately $1.01 million. This position was initially established on March 10. Currently, this address holds a 5x leveraged short position of about 17,157 ZEC, worth approximately $4.78 million, with an entry price of $231.7. The current unrealized loss on the short is $800,000 (-84%), making it the largest ZEC short on-chain. This address has a long-term short strategy on ZEC, previously starting to short ZEC at around $184 and continuously rolling over the position. During that period, it once faced a massive unrealized loss of $21 million, but through long-term holding and averaging down, it turned the loss into profit. The address also currently holds a $35 million short position on ETH, indicating an overall bearish stance.
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