Whale Transactions Shake Up Altcoin Market: PONS, ZEC, and HYPE in Focus

Large cryptocurrency transactions have caught attention recently, and several altcoins have been affected. In the case of PONS, a whale sold millions of tokens for approximately $1.29 million in USDG and Ethereum. This sale put pressure on the price, causing it to fall by 12 percent.

A different whale has seen significant gains from holding ZEC. They opened a long position about a month ago at an average price of $517.68, resulting in an unrealized profit approaching $10 million as the price rose to $1,534.70.

Hyperliquid continued its token burning operations, destroying 26,310 HYPE tokens worth approximately $2.42 million over the past 24 hours. The platform has burned a total of 48.76 million HYPE tokens so far, representing 4.88% of the maximum supply.