The wild nature of the cryptocurrency markets has returned for some major altcoins, such as the privacy coin leader, Zcash (ZEC). The token skyrocketed to a new multi-year peak of just over $1,000 earlier today.<\/p>\n
The move caught many traders, including Garrett Jin, unprepared. Data from Lookonchain outlined his massive loss due to a short squeeze.<\/p>\n
The analysts provided a screenshot from a wallet linked to Jin, showing that he had entered a massive short for 32,760 ZEC (currently worth over $33 million) at prices well below the current level of $444.<\/p>\n
Given the asset\u2019s substantial rally in the past several days, Jin had to add to his short position over time before ultimately realizing a loss of over $18.5 million.<\/p>\n
As $ZEC<\/a> broke above $1,000, Garrett Jin (@GarrettBullish<\/a>) has lost over $18.5M on his 32,760 $ZEC<\/a> ($33.11M) short.https:\/\/t.co\/bLk5NAoS2r<\/a> pic.twitter.com\/YiAA6oySEo<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) September 4, 2026<\/a><\/p>\n\n The privacy coin is among the top performers in the past 24 hours. Its daily gains stand at over 21% as of now, as its price jumped to $1,020 for the first time in eight years. Moreover, ZEC\u2019s value has doubled<\/a> since the market broke out on August 19, when it traded at around $500.<\/p>\n Data from CoinGlass indicated that the total value of wrecked ZEC positions is up to $36 million, meaning Jin\u2019s wipeout accounted for half of it.<\/p>\n The post Garrett Jin\u2019s ZEC Short Bleeds Over $18M as Zcash Explodes Past $1,000<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The wild nature of the cryptocurrency markets has returned for some major altcoins, such as the privacy coin leader, Zcash (ZEC). The token skyrocketed to a new multi-year peak of just over $1,000 earlier today. The move caught many traders, including Garrett Jin, unprepared. Data from Lookonchain outlined his massive loss due to a short […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-222702","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/222702"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=222702"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/222702\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=222702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=222702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=222702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}