The infamous ZEC "perma-bear" is doubling down. According to Hyperinsight monitoring, a well-known whale address has just increased its short position on Zcash (ZEC).

The Strategy:

Position: Shorting 5,000 ZEC

Leverage: 2x

Entry Price: $499.32 (Avg)

Current Status: Sitting on a floating profit of $490,000.

The Backstory:

This whale has a fascinating (and risky) history. This address has attempted to short ZEC 7 times previously, never once taking a long position. Despite a cumulative past loss of $508,000, they aren't backing down.

Is this the trade where they finally recover all their losses, or is ZEC about to squeeze the shorts again? đŸ“‰đŸ”„

What’s your take? Is ZEC headed lower or is this whale about to get liquidated? Let’s discuss below! 👇

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#ZEC #Zcash #WhaleWatch # #TradingStrategy