New Whale Wallet Made $2.7 Million Profit with Zcash

Recently, there have been notable movements in the cryptocurrency market. In particular, transactions involving Zcash (ZEC) have attracted investors' attention. A whale wallet opened just 3 days ago has drawn attention for providing significant profits to its investor.

According to data provided by the on-chain analysis platform Lookonchain, a new investor with the address 0x96ea opened a long position worth 32,000 Zcash (approximately 16.3 million dollars). This move allowed the investor to gain substantial profits from the recent rise in the price of Zcash. The price of ZEC increased by 15.6% in the last 24 hours, reaching 517.85 dollars.

The entry point for the relevant whale wallet's investment process was capitalizing on significant price movements of Zcash. The liquidation price of the investor's position was determined to be 373.13 dollars. Based on the current price level, this address is estimated to have an unrealized profit of around 2.7 million dollars.

In the last few weeks, Zcash has risen from around 35 dollars to 500 dollars, achieving an increase of more than 13%. This situation indicates that demand for Zcash has increased and that investors are gravitating towards this altcoin.

An important point for investors is that, in addition to the price movements of ZEC, the liquidation price should be closely monitored. Critical levels in the technical analysis of Zcash should be tracked, and strategies should be developed according to market movements.

In conclusion, this period has been quite profitable for investors trading with Zcash. However, considering the market volatility, caution must be taken and correct moves must be made.