The popular crypto project Zcash ($ZEC) has recently experienced significant whale activity. In this respect, a whale, going by “0x6EF9,” has gained a notable profit of up to $1.25M by going long. As per the data from Lookonchain, the popular on-chain analytics platform, another crypto wallet, 0x089f, has reportedly deposited a stunning $3.54M in $USDC into the decentralized perpetual futures trading entity Hyperliquid. This reportedly highlights the growing whale profits while Hyperliquid-based wallets are presenting substantial optimism.
Zcash Whale Leverages Ongoing Rally, Netting $1.25M in Profit
As the market statistics point out, a whale has made considerable gains with Zcash ($ZEC). Particularly, the whale, 0x6EF9, opened a long $ZEC position. For this purpose, the respective whale utilized limit orders. Following that, after a few hours, the whale closed that long position. As a result of this, the whale obtained a massive profit of approximately $1.26M. Currently, the respective wallet contains a total value of nearly $7,513,296.81.
Specifically, the ongoing rally of Zcash ($ZEC) has made a crucial contribution to the huge profits of the whale. At the moment, $ZEC is changing hands at $606.67. This indicates a stunning 11.5% price growth over the past 24 hours. In the same vein, the market capitalization of the popular crypto asset has surged by 11.32%, reaching $9.88B. Adding to this, the 7-day performance thereof accounts for a 47.41% rise.
Hyperliquid Attracts Whales, with ‘0x089f’ Depositing $3.54M Amid Rising Momentum
Apart from the profits pocketed by “0x6EF9,” another wallet, going by “0x089f,” has also deposited $USDC tokens of almost $3.54M value into Hyperliquid. So, the wallet’s action suggests an aggressive exposure to $ZEC in anticipation of noteworthy gains while the price is continuously skyrocketing. Concurrently, it is also a sign of a growing bullish momentum while $ZEC is presenting a promising market outlook.
According to Lookonchain, $ZEC’s ongoing price rally is leading toward the wider whale activity, with “0x6EF9” making the enormous $1.26M profit. Moreover, Hyperliquid is also attracting investors like $0x089f. Keeping this in view, multiple wallets are showing great confidence in the upside of $ZEC. However, amid this hype, the market may record volatility in the near term.
