Zcash Whale Sells 20x Profit, Analysts Predict Market Correction

A significant transfer of Zcash (ZEC) from an altcoin whale has been recorded after it surpassed the $1,000 mark. The whale transferred 22,840 ZEC to Binance for approximately $23.11 million.

The whale accumulated these tokens between 2021 and 2024 at an average cost of $48.44 per ZEC.

This transaction resulted in a profit of around $21.96 million for the investor, who made a return on investment of approximately 20 times.

Crypto analyst il Capo believes that this rise could lead to a correction in the broader cryptocurrency market.