25,001 ZEC were sold off in one go, and what the market feels first is pressure, not a story.
BlockBeats report, September 29: According to Lookonchain monitoring, a whale identified as 0xf562 sold 25,001 ZEC worth $37.84 million. These tokens were purchased by the whale an average of $425 two months ago, bringing in a profit of over $27 million.
If the selling pressure continues, short-term buying support may get even harder; only if the price can quickly recoup its losses will sentiment have a chance to stabilize. What’s more worth watching now is whether the spot sell orders keep coming, and whether trading volume during the rebound is enough.
Do you care more about whether this selloff will continue to weigh down ZEC, or whether there will be a fast repair afterward?
Figure 1: Whale sells off $37.84 million worth of ZEC · Partial screenshot of the source page
Image source: https://www.theblockbeats.info/flash/369474
BlockBeats report, September 29: According to Lookonchain monitoring, a whale identified as 0xf562 sold 25,001 ZEC worth $37.84 million. These tokens were purchased by the whale an average of $425 two months ago, bringing in a profit of over $27 million.
If the selling pressure continues, short-term buying support may get even harder; only if the price can quickly recoup its losses will sentiment have a chance to stabilize. What’s more worth watching now is whether the spot sell orders keep coming, and whether trading volume during the rebound is enough.
Do you care more about whether this selloff will continue to weigh down ZEC, or whether there will be a fast repair afterward?
Figure 1: Whale sells off $37.84 million worth of ZEC · Partial screenshot of the source page
Image source: https://www.theblockbeats.info/flash/369474
