Zcash (ZEC) Whale Builds $14 Million Long Ahead of 300% Speed Upgrade
Photo: U.Today
An unknown investor has built a position in Zcash (ZEC) worth about $14 million, splitting the capital between the spot market and the decentralized derivatives exchange Hyperliquid . The purchases came amid preparations for the Network Upgrade 7 (NU7) hard fork: on November 5, it is set to speed up block processing threefold. Judging by on-chain data, the address t1JJnA linked to the investor first bought 3,052 ZEC (about $3.8 million) on the spot market at an average price of $1,250. Then, on Hyperliquid, it opened a 2x leveraged long on 8,000 ZEC worth $10.16 million in two different wallets.
Source: U.Today
