A Zcash whale accumulated approximately 12,870 ZEC—worth around $13.65 million—from Binance, OKX, Kraken, and Gate over the past week, according to on-chain data. The whale then transferred the position to a fresh wallet, removing supply from exchanges. Broader spot-market demand also strengthened, as the Spot Taker Cumulative Volume Delta remained taker-buy dominant, indicating aggressive buying across the market. Meanwhile, Zcash mining economics improved significantly, with Grayscale estimating daily miner rewards near $2 million and noting that ZEC delivers nearly twice Bitcoin’s mining rewards per rig and about four times Bitcoin’s rewards per megawatt-hour. Mining activity has increased by more than 250% throughout 2026. On the price chart, Zcash completed four waves of an Elliott impulse sequence, with Wave (5) awaiting confirmation. A sustained move above the $1,295–$1,298 supply zone would open a path toward $1,500; losing $1,054.72 support would challenge the bullish count.
A Zcash whale accumulated roughly 12,870 ZEC, valued at approximately $13.65 million, from four major exchanges over the past week. According to Onchain Lens, the purchases originated from Binance, OKX, Kraken, and Gate. The whale later transferred the 12,860 ZEC into a fresh wallet, completing the broader accumulation sequence and removing a sizable position from exchange supply.
The accumulation arrived as ZEC attempted to stabilize after its latest price pullback. Broader spot-market activity also supported the demand picture, as the Spot Taker Cumulative Volume Delta remained taker-buy dominant. This metric tracks whether aggressive market buyers or sellers control executed spot volume; the buyer dominance implied that market participants increasingly crossed the spread to acquire ZEC.
On the mining side, network economics improved substantially. Grayscale estimated Zcash miner rewards near $2 million daily, compared with roughly $35 million for Bitcoin miners. Despite the disparity, Grayscale’s comparison noted that Zcash delivered nearly twice Bitcoin’s mining rewards per rig. The ZEC protocol also generated around four times Bitcoin’s rewards per megawatt-hour, improving its relative energy economics. This profitability helped explain why Zcash mining activity increased by more than 250% throughout 2026.
On the 24-hour chart, Zcash’s price structure completed four stages of a developing Elliott impulse wave sequence, as Wave (5) awaited confirmation. Wave (1) advanced toward the $850 region before Wave (2) retraced to the $813.95 support zone. The bulls then drove Wave (3) sharply higher to the $1,295–$1,298 resistance region. Wave (4) pulled ZEC toward the $1,054.72 zone without overlapping the Wave (1) peak. At press time, Zcash traded at $1,138.89, with the Relative Strength Index cooling to 62.37.
A sustained advance above the $1,295–$1,298 supply zone would strengthen Wave (5) confirmation and open a path to a $1,500 possible target. Alternatively, losing the $1,054.72 support would challenge the current wave count and raise the risk of a truncated Elliott impulse wave.
