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"Biggest ZEC bear" averages down and increases short position by approximately $1 million, bringing total position size to $4.78 million

"Biggest ZEC bear" averages down and increases short position by approximately $1 million, bringing total position size to $4.78 million

Frontier Insights
Frontier Insights

2026-03-18 13:09

ChainThink report, March 18: According to Hyperinsight monitoring, overnight and this morning, the address dubbed "the largest ZEC short" (0xd475…) has once again acted, continuously averaging down and increasing its ZEC short position by approximately $1.01 million. This position was initially established on March 10.


The current 5x leverage ZEC short position amounts to roughly 17,157 ZEC, equivalent to about $4.78 million, with an entry average price of $231.7. The short is currently marked for a floating loss of $800,000 (-84%), making it the largest ZEC short on-chain.


This address frequently engages in prolonged short squeezes on ZEC. Previously, it initiated shorting ZEC from around $184, continuously rolling over positions. At its peak, it endured a massive unrealized loss of up to $21 million. However, through long-term holding and strategic averaging down, it managed to turn the losing position into profit. The address currently also holds $35 million in ETH short positions, maintaining a broadly bearish stance overall.


Disclaimer: Contains third-party opinions, does not constitute financial advice

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