After Zcash (ZEC) surpassed the $1,000 level, a large whale who had been holding ZEC at a low cost for over two years made a noteworthy transfer.
According to on-chain data, the whale in question transferred 22,840 ZEC, which he held at an average cost of $48.44, to Binance for approximately $23.11 million. It is estimated that the investor made a profit of approximately $21.96 million from this transaction, increasing his investment by about 20 times.
The whale accumulated ZEC through Binance between 2021 and 2024, collecting the tokens at an average price of $48.44.
After ZEC surpassed the $1,000 mark today, whales began taking profits. According to the data, 22,840 ZEC were first sent to a private address, then transferred to a new address with the private feature removed, and finally transferred to Binance.
Crypto analyst il Capo stated that he expects a correction following the rise in ZEC price, and that this correction could also encompass the broader cryptocurrency market.
*This is not investment advice.
