Whales Favor Zcash Over Bitcoin as Collateral Preferences Shift

Data from CryptoQuant indicates that Bitcoin's share of collateral held by whales has significantly decreased. From 57.8% to 30.5%, this decline marks a substantial shift in how large holders are positioning their assets.

This change does not necessarily mean that whales are selling Bitcoin, but rather that they may be using their cryptocurrency holdings differently during the current bear market environment.

Meanwhile, Zcash (ZEC) has taken on a larger role, increasing its share of collateral held by whales. This shift suggests that large holders have changed their preferences regarding collateral composition.