TREE NEWS reports: Whale entity Garrett Jin (0x92ea…050e) sold 35,000 ETH at $2,500 for $87.5 million, roughly 10 minutes after withdrawing the tokens from Binance. The entity then added margin to its ZEC short, lifting the liquidation price from $2,631 to $4,738. The ZEC short is currently down $30 million.
Whale Garrett Jin Sells 35,000 ETH for $87.5M, Adds Margin to ZEC Short
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AI take
The notable detail is the sequence: ETH pulled from an exchange and sold almost immediately, with proceeds effectively redeployed as margin against a losing ZEC short rather than held. That pattern points to an entity defending an existing position rather than expressing a fresh ETH view, and it makes the ZEC short the real story here. The open question is whether that added margin buys enough room for the position to work, or merely delays a deeper loss.
Generated by AI for reference only.
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