Zcash (ZEC) Sees $23.27M in Whale Longs After 5% Recovery From Intraday Low

The Two Books Behind the Bounce

Two large whale accounts opened or rebuilt long positions in Zcash (ZEC) worth a combined $23.268 million on Monday, November 2, stepping in as the privacy coin rebounded from an intraday dip alongside the broader altcoin market. The Zcash price climbed from an intraday low of $1,210.8 to $1,272 within the monitored window, a recovery of 5.05% off the bottom, and touched $1,276 at the session's highest point. Measured against the 00:00 UTC open, the coin stood 2.62% higher at the time of the snapshot, a figure that covers the day to that point rather than a rolling 24-hour span.

Whale-tracking data logged both orders as directional longs, meaning each book profits only if ZEC holds its recovery. Positions of this size are typically carried through crypto futures contracts on derivatives venues, where posted collateral can be far smaller than the notional it controls. The smaller wallet, recorded under the abbreviated address 0xf081, carries a reported position of $7.564 million at an average entry of $1,232.89, a level 1.82% above the local base the market set during the pullback. The heavyweight of the pair, 0xbf732, reported $15.703 million in notional at an average of $1,256.28, sitting 3.76% above that same base, and it re-entered after a prior trade rather than initiating from flat. Together the two books account for the full $23.268 million, and both entered above the low the market had already established rather than into falling tape. On mark-to-market figures, the combined unrealized profit stood at roughly $429,000, split as $239,000 on the smaller book and $190,000 on the larger one. Neither the platform where the trades executed nor the exact order timestamps were disclosed, so the sequencing between the whale flow and the price recovery cannot be established from the record alone.

The larger wallet did not confine itself to ZEC. The same tracking record shows a purchase of about $1.508 million in Monero (XMR) alongside the re-entry, though the data does not specify whether that leg was a spot acquisition or a derivatives position. Monero shares Zcash's privacy focus, so the side purchase keeps the wallet's exposure inside the same sector. Gaps in disclosure frame what can be said about the trades: no venue is named, no order timestamps are published, and the reported position sizes should not be read as the collateral each account deposited, because leverage lets a smaller margin carry a much larger book. A long position gains when price rises and, where leverage is in play, carries liquidation risk if the market moves hard against it. The $429,000 in combined profit is unrealized as well, calculated at the prevailing mark and able to shrink or reverse before either position closes.

The activity lands on a coin that has produced a steady run of large-holder stories. Recently one prominent whale exited a position near $1,235 amid a dispute over a community grant, a departure that showed how much sway single wallets can hold over the thin order books of privacy assets. High-profile backers have stayed aggressive regardless: a framework associated with the Winklevoss twins sketched a 5x path above $5,000 for the coin, and the project marked 10 years near $1,317. Our Zcash news log has followed each of these turns, and the latest flow shows the large-money side of the book leaning long again.

Entries Close to the Mark

Our reading of the record: blended across the two books, the average entry works out to about $1,249, so the $429,000 of combined unrealized profit amounts to roughly 1.8% of the $23.268 million committed. Entries that close to the prevailing mark leave little cushion, which makes the liquidation thresholds behind these positions, not their headline size, the number to watch if ZEC gives back the bounce. Two wallets trading one direction also do not add up to broad demand. Without concurrent spot volume, open interest and funding-rate readings, the recovery cannot be attributed to these orders, and without order timing and order-book depth, no cause-and-effect line runs from the whale flow to the price move. The levels the market has to hold from here sit in our Zcash technical analysis.