Crypto
Zcash Investor Scores 20x Return with $23 Million Sale
A large Zcash (ZEC) investor has made off with a substantial profit by selling 22,840 ZEC on Binance for $23 million. The trader accumulated this massive sum since 2021, with most of the buying happening in the first three years.
The initial investment was just $1.1 million, which is a staggering 20x return. This means that the investor bought each coin at an average price of $48 and now sells it for over $1,200 per coin.
This development shows that investing in the right asset at the right time and holding on can pay off big dividends. Zcash itself has had a history of downturns, with prices averaging between $30 and $90 during 2022 and 2023.