Whale Who Won 26 Consecutive Trades Loses $10.68 Million on an Altcoin: Profits Erased

The rally in ZEC has driven an anonymous whale, who previously earned over $9 million, into a $10.68 million loss.

According to a September 19 post by Lookonchain, the anonymous whale was forced to close their ZEC short position. The loss resulting from the closure wiped out the account’s past profits and turned the overall picture into a net loss of approximately $1.57 million.

The whale had previously won 26 consecutive trades, achieving an 89% success rate across 47 trades and earning over $9 million in profit. However, ZEC’s rise reversed the short position opened following this performance.

Millions of dollars in losses on ZEC short position

In a previous post, the whale’s short position of 12,285 ZEC, valued at approximately $18.31 million, was open. At that time, the trade was $7.66 million in the red, and the liquidation price was seen as $1,550.66.

After the position was closed, the transaction screen displayed a net PnL value of minus $10,681,768.08 for the completed ZEC short trade. Thus, despite the high historical win rate, a single large position shifted the account’s total outcome from profit to loss.