A whale bought 3,052 ZEC worth $3.8 million on the spot market and then opened a 2x leveraged long position on 8,000 ZEC worth $10.16 million. Zcash reached a local high of $1,284 before trading around $1,277, up 2.3% over 24 hours. However, exchange inflows exceeded outflows, with a net flow of $20 million, increasing the supply available for potential selling. Rising exchange deposits and resistance at short-term moving averages could limit the recovery toward $1,318, while renewed selling pressure could pull the price back toward $1,208.
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