{"id":468773,"date":"2026-09-23T09:29:18","date_gmt":"2026-09-23T06:29:19","guid":{"rendered":"http:\/\/sitedemo.beget.tech\/559\/a-chinese-whale-may-have-made-another-large-purchase-of-an-altcoin-that-has-surged-incredibly-in-recent-days\/"},"modified":"2026-09-23T09:29:18","modified_gmt":"2026-09-23T06:29:19","slug":"a-chinese-whale-may-have-made-another-large-purchase-of-an-altcoin-that-has-surged-incredibly-in-recent-days","status":"publish","type":"post","link":"http:\/\/sitedemo.beget.tech\/559\/a-chinese-whale-may-have-made-another-large-purchase-of-an-altcoin-that-has-surged-incredibly-in-recent-days\/","title":{"rendered":"A Chinese Whale May Have Made Another Large Purchase of an Altcoin That Has Surged Incredibly in Recent Days"},"content":{"rendered":"

<\/p>\n

<\/p>\n

While the rise in Zcash ($ZEC<\/span>) price continues in the cryptocurrency market, Garret Jin\u2019s past large-scale $ZEC<\/span> purchases and short position on Hyperliquid have attracted attention.<\/p>\n

According to a screenshot shared by Jin from his X account, 68,080 $ZEC<\/span> was withdrawn from Binance on December 24th of last year. At that time, the value of that $ZEC<\/span> was approximately $29.7 million. The same wallet was also seen withdrawing 134,000 $ZEC<\/span>, worth approximately $58.6 million, from Zcash just minutes earlier.<\/p>\n

Thus, a total of 202,080 $ZEC<\/span> was transferred to the wallet, with a total value of approximately $88.3 million at the time. According to on-chain data, Jin later moved all of the $ZEC<\/span> to shielded addresses using Zcash\u2019s privacy feature. However, the assets were moved back to transparent addresses within minutes, and all 202,080 $ZEC<\/span> are still under the control of the same investor.<\/p>\n

With the $ZEC<\/span> price rising to $1,580, the current value of Jin\u2019s Zcash holdings has reached approximately $320 million. This indicates that the position has gained approximately $232 million in value in dollar terms.<\/p>\n

On the other hand, it is stated that Jin also has a short position on Hyperliquid of approximately 38,000 $ZEC<\/span>, currently worth about $60 million. The unrealized loss on this short position is approximately $34.5 million.<\/p>\n

This chart suggests that a short position on Hyperliquid could be considered a partial hedge against Jin\u2019s much larger spot $ZEC<\/span> holdings. Thus, in the event of a price drop in $ZEC<\/span>, the profit from the short position could offset a portion of any potential decline in the spot market.<\/p>\n

*This is not investment advice.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While the rise in Zcash ($ZEC) price continues in the cryptocurrency market, Garret Jin\u2019s past large-scale $ZEC purchases and short position on Hyperliquid have attracted attention. According to a screenshot shared by Jin from his X account, 68,080 $ZEC was withdrawn from Binance on December 24th of last year. At that time, the value of …<\/p>\n","protected":false},"author":1,"featured_media":468775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0},"categories":[228],"tags":[],"yoast_head":"\nA Chinese Whale May Have Made Another Large Purchase of an Altcoin That Has Surged Incredibly in Recent Days - Crypto News<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Chinese Whale May Have Made Another Large Purchase of an Altcoin That Has Surged Incredibly in Recent Days - Crypto News\" \/>\n<meta property=\"og:description\" content=\"While the rise in Zcash ($ZEC) price continues in the cryptocurrency market, Garret Jin\u2019s past large-scale $ZEC purchases and short position on Hyperliquid have attracted attention. 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