Whale Quietly Stacks $31M in Zcash An unidentified crypto whale has been quietly building one of the more eye-catching positions in the market. According to on-chain monitoring by @OnchainLen
An unidentified crypto whale has been quietly building one of the more eye-catching positions in the market. According to on-chain monitoring by @OnchainLens, the wallet has been continuously accumulating and consolidating $ZEC across multiple linked addresses over the past week, receiving roughly 41,690 ZEC and transferring out around 18,730 ZEC, leaving a net holding of approximately 22,960 ZEC worth about $31.7 million.
The buying has not let up. A further 4,200 ZEC, worth roughly $5.84 million, was transferred into the main wallet in just the past three hours. The original copy from @BSCNews notes that on the morning of September 29 alone, the wallet added close to $6 million worth of $ZEC, underscoring the pace and conviction behind the accumulation.
This is not an isolated event. Earlier in September, a separate whale had accumulated 36,360 ZEC, worth approximately $41.56 million, sourcing coins from Binance, OKX, Kraken, and Gate over just six days. The pattern of large, exchange-sourced withdrawals has become a recurring feature of the $ZEC market in recent weeks.
The whale activity is unfolding against a backdrop of sharp price appreciation. @BSCNews notes that Zcash is up more than 20x over the past year, a move that has attracted both on-chain accumulators and institutional attention. Zcash has been riding a wave of institutional adoption and technical upgrades.Grayscale announced a 3-for-1 ETF share split in late September 2026, with inflows into the product exceeding $233 million.Separately, 21Shares launched a Zcash ETP in Europe, giving regulated access to the asset for a new class of investor.
$ZEC reached a recent all-time high of $1,693.20 on September 26, 2026. The coin has since pulled back, but large-wallet buyers appear to be treating any dip as an opportunity rather than a warning sign.
Whether the accumulation reflects a single entity with outsized conviction or coordinated buying across related wallets remains unclear. What the on-chain data does show is a sustained, deliberate buildup in a privacy-focused asset that has moved from the fringes of the market to a focal point for some of crypto's largest players.
Sources:PANews: A whale accumulated and consolidated about $31.7 million in ZEC over the past weekKuCoin News: Whale Accumulates $31.7M in ZEC Over Recent WeeksTradingView: Zcash (ZEC) Price Chart
