Lookonchain
Garrett Jin, the trader behind the largest short position in Zcash, currently holds 202,078 ZEC worth $312.8 million, according to on-chain tracking. He withdrew the entire stack from Binance nine months ago, when ZEC traded at $437.
With ZEC now more than triple that level, the spot position is carrying roughly $224.5 million in unrealized profit. The structure is unusual: Jin is simultaneously holding the biggest ZEC short on the books and a nine-figure long in spot, making his wallet one of the most closely watched positions in the ecosystem.
Traders will be watching for any movement of those coins back onto an exchange, which would be read as a potential distribution signal for ZEC.
Frequently asked questions
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Who is Garrett Jin and why does his ZEC position matter?
Garrett Jin, known on X as @GarrettBullish, holds the largest short position in ZEC and also owns 202,078 ZEC in spot, worth $312.8 million. The size of both books makes his wallet a closely watched on-chain signal.
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How much unrealized profit is Garrett Jin sitting on in ZEC?
His spot stack of 202,078 ZEC carries roughly $224.5 million in unrealized profit, based on on-chain tracking of the position.
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When did Garrett Jin withdraw his ZEC from Binance?
He withdrew the full 202,078 ZEC from Binance nine months ago, when ZEC was trading at $437. The token has since more than tripled from that level.
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Why is it notable that Jin holds both a short and a spot long?
He is simultaneously carrying the biggest ZEC short on the books and a nine-figure spot long. That unusual structure makes his holdings a key data point traders track for clues on market direction.
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What would traders read as a distribution signal here?
Any movement of the 202,078 ZEC back onto an exchange would likely be interpreted as potential distribution, since the coins have sat off Binance since the withdrawal nine months ago.
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