Zcash surges more than 200% as whale transfers $15 million in ZEC to Coinbase

  • Zcash whale address t1Lyq transferred about $15 million in ZEC to Coinbase.
  • Zcash rose more than 200% in one month and 2,870% over one year.
  • ZCSH recorded three consecutive weeks of net inflows after listing on NYSE Arca.

Zcash (ZEC) has gained more than 200% in a month and 2,870% over the past year, while whale address t1Lyq transferred about $15 million in ZEC to Coinbase late on Sept. 18. The address held about $363 million in ZEC and had not deposited assets to an exchange for roughly 10 months. The transfer may increase near-term profit-taking concerns after ZEC rose above $1,500 intraday. Meanwhile, Grayscale’s spot Zcash ETF, ZCSH, has posted three straight weeks of net inflows and accumulated about $890 million in net assets, providing institutions and traditional-finance investors with brokerage-based exposure. South Korea restricts trading in privacy coins such as Zcash over anti-money-laundering concerns.

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