{"id":609773,"date":"2026-09-08T16:26:08","date_gmt":"2026-09-08T16:26:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/609773\/"},"modified":"2026-09-08T16:26:08","modified_gmt":"2026-09-08T16:26:08","slug":"zcash-price-eyes-2292-as-biggest-zec-short-doubles-down-despite-24m-loss","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/609773\/","title":{"rendered":"Zcash Price Eyes $2,292 as Biggest ZEC Short Doubles Down Despite $24M Loss"},"content":{"rendered":"

\"Zcash's<\/a> Zcash’s biggest onchain short has grown to $47 million despite a $24 million paper loss, putting its $2,292 liquidation price in focus. | Credit: CCN.com <\/p>\n

Key Takeaways <\/p>\n

Garrett Jin added $8.4 million to his ZEC short despite carrying roughly $24 million in unrealized losses. <\/p>\n

The whale now holds a $47 million short covering 39,760 ZEC, with an average entry price near $576. <\/p>\n

The position faces liquidation at $2,292, which represents a risk threshold rather than an independent Zcash price target. <\/p>\n

Zcash’s extraordinary rally<\/a> has turned one whale’s bearish bet into one of the crypto market’s most closely watched positions. <\/p>\n

Garrett Jin<\/a>, identified by blockchain analysts as the trader behind the largest tracked onchain ZEC short, has added another 7,000 coins to his position despite carrying approximately $24 million in unrealized losses. <\/p>\n

The additional short was opened near $1,195 per ZEC<\/a> and was worth roughly $8.4 million. Jin now holds a short position covering 39,760 ZEC, with a notional value of approximately $47 million and a reported liquidation price of $2,292. <\/p>\n

That liquidation threshold has become an important reference point for traders, although it should not be interpreted as a standalone Zcash price forecast. <\/p>\n

Whale Raises Average ZEC Short Entry to $576 <\/p>\n

Data monitored by EmberCN and Lookonchain indicates that Jin’s latest trade raised his average short entry price from approximately $444 to $576.30. <\/p>\n

Increasing the position at a much higher price improves the average entry price, but it also increases the trader’s overall exposure if Zcash continues to climb. <\/p>\n

Jin’s short reportedly uses 3x leverage. With ZEC trading well above his revised average entry, the position remains deeply underwater despite the improved cost basis. <\/p>\n

The position would remain open as long as ZEC stays below its liquidation threshold and Jin maintains sufficient collateral. <\/p>\n

However, a move to approximately $2,292 could force the platform to close the trade, potentially requiring the purchase of thousands of ZEC into an already rising market. <\/p>\n

From a price of $1,176, Zcash<\/a> would need to gain roughly 95% to reach that level. <\/p>\n

The distance provides Jin with some protection from immediate liquidation, but his decision to increase the position shows considerable conviction that the rally will eventually reverse. <\/p>\n

Zcash Rally Traps Bearish Traders <\/p>\n

Zcash<\/a> recently climbed above $1,000 for the first time since 2016 and reached a local high of $1,254 following four consecutive days of gains. <\/p>\n

At the time of the initial report, ZEC traded near $1,176, representing a 44.1% weekly increase. The privacy-focused cryptocurrency had gained 137% over 30 days and approximately 2,389% over the previous year. <\/p>\n

Such a rapid move has placed short sellers under intense pressure. When leveraged bearish positions<\/a> approach their liquidation prices, exchanges automatically close them by purchasing the underlying asset. Those forced purchases can accelerate an existing rally and trigger further liquidations. <\/p>\n

Jin is not the only trader caught on the wrong side of the move. <\/p>\n

According to Lookonchain, an address identified as “0x362a” opened a short position covering 15,785 ZEC, valued at approximately $18.95 million. <\/p>\n

The position incurred a paper loss of around $5.27 million over three days, despite the trader having previously recorded 26 consecutive winning trades. <\/p>\n

Is $2,292 a Zcash Target or Liquidation Marker? <\/p>\n

The growing attention around $2,292 largely reflects the size of Jin’s position rather than a technical ZEC price target<\/a>. <\/p>\n

If Zcash reverses below Jin’s average entry, the trade could recover substantially. If the rally continues, however, mounting unrealized losses could pressure him to reduce the position before liquidation becomes unavoidable. <\/p>\n

Jin’s simultaneous Bitcoin long<\/a>, reportedly opened near $77,089, suggests he is not broadly bearish on crypto. <\/p>\n

Instead, the positions point to a relative-value strategy betting that Bitcoin will outperform Zcash or that ZEC’s rapid appreciation has become unsustainable. <\/p>\n

For now, Zcash remains far below the whale’s liquidation price<\/a>. <\/p>\n

But the combination of limited liquidity, strong momentum, and increasingly trapped short sellers means the path toward $2,292 could become more dangerous, and potentially more explosive, the further ZEC rises. <\/p>\n

Top Trending Crypto Articles <\/p>\n

The post Zcash Price Eyes $2,292 as Biggest ZEC Short Doubles Down Despite $24M Loss<\/a> appeared first on ccn.com<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Zcash’s biggest onchain short has grown to $47 million despite a $24 million paper loss, putting its $2,292…\n","protected":false},"author":2,"featured_media":609774,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[37418,276215,114,85,46,26467,223839,276214,223843,276213],"class_list":["post-609773","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-37418","tag-276215","tag-business","tag-il","tag-israel","tag-jin","tag-zcash","tag-zcash-target","tag-zec","tag-zec-short-entry"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/609773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=609773"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/609773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/609774"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=609773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=609773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=609773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}