Famous trader experienced losses again on Zcash.

Significant developments are taking place in the world of cryptocurrencies. A well-known trader, who previously won with 14 consecutive trades, has opened a short position on Zcash (ZEC) again, increasing their total loss to 30.6 million dollars. According to data shared by the on-chain analysis platform Lookonchain, the trader recently closed their short position of 2,062 ZEC (approximately 1.47 million dollars) at a loss.

In recent days, it has been noted that the trader has consistently faced losses in their trades involving significant cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and ZEC. Notably, the last two positions in ZEC trades incurred a loss of approximately 395 thousand dollars, while losses from Ethereum trades exceeded 15 million dollars, bringing the total loss to over 30 million dollars.

Despite this, the trader's decision to reopen a short position on Zcash has led to various comments within the cryptocurrency community. Analysts point out that ZEC has gained strength above the 700 dollar level recently, which has put pressure on short positions. Continuing to follow the same strategy is viewed as an attempt to "recoup losses" in the markets.

It is crucial for investors to closely monitor the fluctuations in Zcash and other cryptocurrencies. Because such attacks in the markets can impact the overall strategies and losses of traders. The 700 dollar level is critical for Zcash investors and may determine short-term price movements.