Zcash whale buys $3.8M in ZEC – 2 obstacles could slow the recovery

Zcash [ZEC] reached a local high of $1,284 before easing slightly. At press time, it traded around $1,277, up 2.3% over 24 hours. The recovery attracted renewed whale interest. However, broader Spot activity suggested that other investors remained cautious. Can Zcash whale buying offset selling pressure? According to Lookonchain, a whale bought 3,052 ZEC worth $3.8 million on the Spot market. The purchase showed substantial conviction from one buyer, although broader flows painted a different picture. Zcash recorded $110 million in Spot Inflows compared with $89 million in Outflows. Spot Netflow stood near $20 million, reflecting higher exchange deposits. These deposits increased the supply available for potential sale. So, while the whale bought into the recovery, broader exchange flows left Zcash exposed to selling pressure.

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