Bitkub Co-Founder's Wallet Trades $26M ZEC for 238 BTC

A wallet associated with Sakolkorn Sakavee, co-founder of Bitkub, has moved 34,000 Zcash (ZEC) to Hyperliquid over the past 24 hours. The transfer is valued at approximately $26.1 million.

The wallet sold 24,000 ZEC for about $18.5 million and acquired 238 Bitcoin (BTC) with the proceeds.

According to blockchain analytics firm Lookonchain, the wallet still holds roughly 10,000 ZEC, valued at approximately $7.6 million, on Hyperliquid.

The transaction suggests a strategic shift in the holder's portfolio, favoring Bitcoin over Zcash. This move could be influenced by Bitcoin's stronger market position and institutional adoption.