ZEC Short Position of 767.2 Coins Fully Liquidated for Approximately $1 Million

A trader who had shorted 767.2 ZEC has fully liquidated their position, with the position size amounting to roughly $1 million (approximately 1.37 billion KRW). The trader initially closed their ZEC long position before switching to a short position of 767.2 coins, which was subsequently fully liquidated. Foresight News reported this based on Lookonchain's monitoring.

Short positions are entered with the expectation of price declines; if prices move contrary to expectations, insufficient margin may lead exchanges or contract systems to forcibly close positions. The entry price and leverage for this trade were not disclosed. Recent short position liquidations have also occurred in the ZEC derivatives market. Lookonchain reported that on September 4, after ZEC surpassed $1,000, three addresses saw their short positions of 3,213.05 coins forcibly liquidated over several days. The liquidation size totaled approximately $3.27 million (about 4.48 billion KRW), with confirmed losses amounting to roughly $204,700 (approximately 280 million KRW). At that time, two addresses were reported to have held short positions of about $6.77 million (roughly 9.28 billion KRW) in ZEC, though no connection has been confirmed with the recent full liquidation case.

Earlier reports also noted expanding unrealized losses on ZEC short positions recently.