ZEC whale short: $51.5M bet down $26M as squeeze builds

Frequently asked questions

1. Who is Garrett Jin and what is his ZEC position?

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   Garrett Jin (@GarrettBullish) holds the largest on-chain short on ZEC, currently 37,760 ZEC worth about $51.5 million. He added to the position roughly 11 hours ago and is down over $26 million on the trade.

2. At what price does Garrett Jin's ZEC short get liquidated?

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   The posted liquidation price for the short is $2,631.53. If ZEC trades up to that level, the roughly $51.5 million short position would be forcibly closed.

3. Why could this ZEC short trigger a short squeeze?

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   A short squeeze happens when rising prices force shorts to buy back the asset to close positions, pushing prices higher still. With $51.5 million at stake near its liquidation trigger, a forced unwind of Jin's short would add significant buy pressure to ZEC markets.

4. How much is the largest on-chain ZEC short worth?

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   The short covers 37,760 ZEC, valued at approximately $51.5 million at current prices. The trader is down more than $26 million on the position after adding to it 11 hours ago.

5. What happens to ZEC if the whale's short is liquidated?

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   Liquidating a $51.5 million short requires buying back 37,760 ZEC on the open market, which would inject sharp upward pressure into order books and could accelerate ZEC's rally toward and beyond the $2,631.53 trigger.