ZEC Short Position Reduces ETH Holdings Amid Profit Gains

On February 1, a notable address known for its significant short position in ZEC has partially closed its ETH short position, according to BlockBeats. The address, identified as 0xd475, reduced its ETH short holdings by 967.68 ETH, valued at approximately $3.11 million. Despite this reduction, the ETH short position remains substantial, with a value of $53.55 million and a current floating profit of about $18.43 million. The address gained recognition for establishing a large short position on ZEC, initially shorting from $184 per ZEC. After experiencing a floating loss of $21 million, the position eventually turned profitable.