On February 3, a notable cryptocurrency address known for its significant short positions on ZEC executed a series of rapid transactions to expand its ETH long position. According to BlockBeats On-chain Detection, the address, identified as 0xd475..., engaged in intensive operations over approximately 30 minutes, including opening new positions, averaging down, and rolling positions, swiftly increasing its holdings to approximately $2.12 million.
The address initiated its first ETH long position at 15:47, acquiring 442.42 ETH valued at around $1.03 million. Between 16:01 and 16:33, it performed five consecutive averaging down and rolling operations, accumulating an additional 780 ETH. After multiple additions, the total value of its ETH long position reached $2.1216 million, with an average holding price of approximately $2,320.96 per ETH. Currently, the position is experiencing a slight floating profit.
This address is renowned for establishing large-scale short positions on ZEC, having started shorting ZEC at a price of $184, initially incurring a floating loss of $21 million before turning profitable.