Zcash Whales Take Profits as Token Soars Over 200%

Zcash has surged more than 200% in a month and gained over 2,870% in the past year.

A large investor holding more than $300 million worth of ZEC transferred about $15 million to Coinbase for the first time in 10 months on September 18.

This significant transfer has raised concerns that the investor may be taking profits after the token's sharp rally.

The spot Zcash ETF, ZCSH, which listed on NYSE Arca late last month, has seen net inflows for three straight weeks and now holds about $890 million in assets.