ZEC Bear Market Hits Major Account with Significant Loss

A prominent bullish account holding Zcash (ZEC) is facing substantial losses as the cryptocurrency’s price declines. The account, which currently possesses 35,000 ZEC worth an estimated $18 million, has incurred an unrealized loss of nearly $1.16 million. This comes despite a purchase average price of $559 with a liquidation price set at $474. The current market price is at $520, leading to the account’s unrealized profit shrinking from over $12 million to below $1 million, a decline of roughly 90%. However, the account has since recovered some ground to approximately $5.15 million following a rebound in ZEC’s price.