A Major Altcoin Whale That Had Been Holding for Over Two Years Sold Today: Made a 20x Return

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.