Large investors record a loss of $55.6 million due to consecutive ZEC and BTC transactions

A notable loss incident has occurred in the blockchain market. It has been identified that a major cryptocurrency investor recorded a total loss of $5.56 million through multiple transactions.

Diverging Results of Profit and Loss

Looking at this investor’s trading process, there were positive signals in the early stages. This was because they secured a profit of $3.2 million from the long position liquidation of Zcash(ZEC). However, the situation changed drastically in the subsequent ZEC short position trade. A loss of $1.6 million occurred, causing more than half of the initial profit to disappear in an instant.

Additional Losses in Bitcoin Trading

The more serious issue was the previously conducted Bitcoin(BTC) trade. Since this trade alone resulted in a loss of $7.7 million, the total loss when summing all transactions ultimately reached $5.56 million.

This incident clearly demonstrates the high volatility and the risks associated with derivatives trading in the cryptocurrency market. It suggests that even investors with substantial capital can incur unpredictable losses in the face of rapid market movements.