Chinese Whale Was Forced to Dump This Altcoin Following Recent Price Movements

On-chain cryptocurrency data has shown that Lee Goon Wang, a Chinese crypto whale, conducted a large altcoin sell transaction on the decentralized cryptocurrency exchange Hyperliquid.

According to the data, Wang sold 15,000 Zcash ($ZEC) worth a total of $23 million in a limit sell order. The sell order was placed by the whale at a price approximately $30, or about 2%, lower than the market price.

$ZEC is among the altcoins that have recently gained prominence due to its use of the Proof of Work system, now rare outside of Bitcoin, and its privacy features. This popularity has also led to increased volatility in the asset. After reaching $1,600 during the day, the $ZEC price has fallen and is currently trading at $1,520 at the time of writing.

Despite this, $ZEC, with its approximately 2,500% increase in the last year, has become one of the altcoins that will leave its mark on 2026. In fact, $ZEC, a rather old altcoin, experienced a surge this year along with the increasing trend of privacy tokens.

*This is not investment advice.