Zcash Price Plummets Below $500 After Large Long Position Loss

ZCash price recently experienced a significant drop, falling below the $500 mark, according to recent reports from Foresight News. Research by @ai_9684xtpa has identified a large-scale position on Zcash. An address starting with 0xcf9 held a 10x long position worth approximately $9.79 million on November 22nd, at an opening price of $574.864. This resulted in an unrealized loss of about $1.925 million when the price dropped today. While this address’s position hasn’t been modified despite the drop, earlier this day its unrealized losses exceeded $2.42 million, a significant indicator of potential losses for investors.