Jin Builds on a Profitable Zcash Playbook
Bitcoin OG Garret Jin (@GarrettBullish) has raised his 2x leveraged $ZEC short to 32,759.57 tokens, bringing the position's notional value to roughly $14.9 million, according to Onchain Lens. The move is consistent with a pattern Jin has maintained across multiple Zcash trades. His two prior ZEC trades were both closed in profit, generating a combined gain of $11.66 million, with the earlier win coming after Zcash's sharp selloff triggered by the discovery of a critical network vulnerability in its Orchard Pool privacy protocol.
Jin's bearish conviction on Zcash has grown incrementally. What began as a smaller opening position has since been scaled up on Hyperliquid, the decentralised perpetuals platform where his trades are publicly visible and closely tracked by on-chain analysts.
Bitcoin Long Remains the Bigger Risk
Alongside the ZEC short, Jin continues to hold a separate 5x leveraged $BTC long consisting of 1,268.33 BTC, entered at an average price of $76,117. That position currently carries a floating loss of approximately $16 million, reflecting Bitcoin's decline from Jin's entry level.
The two-sided book sets up an asymmetric risk profile: a weakening ZEC works in Jin's favour on the short leg, while a $BTC recovery would ease pressure on the long. If both trades move against him simultaneously, the losses could compound quickly given the leverage involved. Jin is associated with the entity known as the "1011 Insider Whale," a wallet closely monitored by market analysts due to the scale of its positions.
Sources:
Crypto Adventure: Garrett Jin Shorts ZEC Again With $4.92M Position
KuCoin: Garret Jin Adds 5x BTC Long Position
Phemex: Whale Garrett Jin Faces $17M Loss on BTC Long Position
