Zcash Whale’s Position Swells to $320M as Price Climbs

Zcash has been rallying hard, drawing fresh scrutiny to one major holder. On-chain records show investor Garrett Jin pulled roughly 202,000 ZEC from Binance on December 24 last year, then worth about $88 million.

At the current price near $1,580, those coins are now valued at around $320 million. Jin also maintains a short on Hyperliquid covering some 38,000 ZEC, currently showing an unrealized loss of about $34.5 million.

The short appears to act as a partial hedge against the much larger spot stack. Any drop in ZEC could be offset, at least partly, by gains on the futures side, keeping the overall exposure heavily tilted toward further upside.

Based on information from https://cryptonews.net