Whale Unleashes $33M onto ETH Market, ZEC Also in Crosshairs
A massive ETH and ZEC purchase by a whale entity has sent shockwaves through the crypto market. On September 9, 2026, four dormant addresses linked to this single entity suddenly sprang back into life, deploying $33.37 million into ETH and $8.21 million into ZEC.
The wallets used Cowswap to execute a massive 13,290.6 ETH purchase at an average price of $2,511 per coin. The funds were also routed through Near Intents to acquire 6,601.37 ZEC, with the entity paying 16.75 ETH in fees.
The price action on the ETH 4h chart shows that it's trading within the Bollinger band, with upper resistance at $2,512 and lower support at $2,467. The EMA50 is acting as immediate support above the EMA200, while the MACD registers a bearish death cross.
The recent price movement has led some analysts to predict that a healthy retracement towards the 50-EMA support at $2,471.85 is probable before continuation.