Zcash Short Trader Faces $7.66M Paper Loss as ZEC Nears $1,500

A Zcash trader who once won 26 trades in a row is now sitting on a $7.66 million unrealized loss after taking a heavily leveraged short position in ZEC as the privacy coin continued its rally.

The trade shows just how quickly gains from a strong run of successful positions can disappear when someone gets caught on the wrong side of a fast-moving market.

ZEC Rally Leaves Short Trader $7.66M Underwater Lookonchain reported on September 18 that the trader had recorded an 89% win rate across 47 trades and made more than $9 million before the ZEC short erased those gains.

The current position is a 12,285 ZEC short worth around $18.3 million, with the trader facing liquidation if ZEC reaches about $1,551.