ZEC's Largest Short Position Partially Closes ETH Short

On January 24, a notable address known for its significant short position on ZEC executed a partial profit-taking on its ETH short position. According to BlockBeats On-chain Detection, the address reduced its ETH short by 1,055.93 ETH. Despite this reduction, the ETH short position remains substantial, valued at $118.7 million, with a current floating profit of approximately $11.04 million. The address gained recognition for establishing a large short position on ZEC, initially shorting from $184. After incurring a floating loss of $21 million, the position eventually turned profitable.