Altcoin Whale's Trading Rollercoaster: $3.2M Profit Erased by Consecutive Losses

Source: CryptoNewsNet Original Title: Big Altcoin Whale Falls Victim to Greed: Made $3.2 Million in Profits, But Original Link: https://cryptonews.net/news/altcoins/32224349/ While the transactions of large investors in the cryptocurrency market continue to be closely monitored, a notable movement has occurred in Zcash (ZEC).

A whale profited $3.2 million by closing a long position in ZEC. However, shortly afterward, he closed a short position he had opened about an hour ago with a loss of $1.6 million. Thus, he gave back half of his previous profit.

The whale’s past performance is also noteworthy. Having previously lost $7.7 million in Bitcoin (BTC) transactions, the investor’s total net loss has reached $5.56 million with his recent ZEC transactions.

However, significant trading activity was also observed among other whales in the market.

Another address that is consistently increasing its LIT short position is currently holding around $300,000 in profit, with a size of $9.35 million and an average cost of $2.71. They also opened a ZEC short position today and continue to increase it; the current size is approximately $1 million. This address is the largest short seller of LIT on Hyperliquid.