🚨 Smart Money Still Buying ZEC Despite Massive Unrealized Losses
Recent on-chain data has revealed an interesting development in the
$ZEC market. An account widely believed to be associated with Garrett Jin, often referred to by traders as an agent of the famous "1011 insider whale," has reportedly placed six separate limit buy orders at $409.12.
What makes this move particularly noteworthy is the size of the positions already being held.
According to publicly available data, the account is currently maintaining a 5x leveraged long position of approximately 1,268 BTC alongside a 2x leveraged long position of more than 50,000 ZEC.
At current market prices, the combined positions are estimated to be sitting on an unrealized loss of roughly $15.4 million, with an ROI near -57%.
Despite these losses, the account continues to add buy orders rather than exit the market.
This behavior often attracts attention because large market participants typically operate with a longer-term strategy and deeper market insights than retail traders. While no trade is guaranteed to succeed, the willingness to accumulate at lower levels suggests continued confidence in ZEC's future price potential.
For now, traders should closely monitor the $409 zone. If buyers continue defending this level, it could become one of the most important support areas for ZEC in the coming sessions.
The market remains volatile, but smart money activity is always worth watching.
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