A Chinese Crypto Whale Made Major Changes to It’s Positions Today

A crypto whale identified as Garrett Jin has closed his entire long position of 1,331 $BTC, which he had held for approximately 3.5 months. It is reported that he made a profit of $1.02 million from the position, which was worth approximately $107 million.

After closing the $BTC position, the investor was left with only a heavily losing Zcash ($ZEC) short position. According to the data, the whale is carrying approximately $24 million in unrealized losses on a short position of 39,760 $ZEC, worth about $47 million.

Another noteworthy detail was that the investor added to his losing short position even though the $ZEC price rose during the day. Garrett Jin later closed his profitable $BTC long position entirely, while choosing to hold onto his losing $ZEC position.

$ZEC is among the most talked-about altcoins recently. In addition, privacy-themed cryptocurrencies are also among the most popular in the sector.

*This is not investment advice.