Zcash whale accumulation outlook strengthened, with a $13.65 million position complementing aggressive spot-market buying throughout the latest price recovery.
According to Onchain Lens, one whale accumulated roughly 12.87K ZEC, worth around $13.65 million, from four major exchanges over the past week.
Notably, the purchases originated from Binance, OKX, Kraken, and Gate, reflecting accumulation across several liquidity platforms. The whale later transferred the 12.86K ZEC into a fresh wallet, completing the broader accumulation sequence.
Therefore, the activity removed a sizable position outside the exchanges where the whale initially acquired it. Besides, the accumulation also arrived as ZEC attempted to stabilize after its latest price pullback.
Spot buyers back the whale activity
Additionally, whale accumulation activity did not stand alone, as the broader spot-market activity supported the accumulation picture.
The Spot Taker CVD remained taker-buy dominant, providing another demand element alongside the whale accumulation. Generally, this metric usually tracks whether aggressive market buyers or sellers control the executed spot volume over the measured period.
The buyer dominance implied that the market participants increasingly crossed the spread to acquire ZEC rather than awaiting lower prices. Crucially, such activity broadened the demand picture beyond one whale’s purchases across the centralized exchanges.
The whale accumulation reflected large-holder conviction, while Spot Taker CVD on the broader end highlighted aggressive buying across the spot market.
Combined, both developments implied that the bulls actively absorbed the available ZEC during the recent price volatility.
Mining economics attracted greater participation
Meanwhile, stronger network economics provided another support component to Zcash’s improving fundamental backdrop.
Specifically, Zcash mining economics also improved substantially as higher profitability attracted considerably greater network participation throughout 2026.
Accordingly, Grayscale estimated Zcash miner rewards near $2 million daily, compared with roughly $35 million for Bitcoin miners. Despite the huge disparity, Zcash delivered nearly twice Bitcoin’s mining rewards per rig, according to Grayscale’s comparison.
Additionally, 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.
The mining-power chart also showed particularly rapid expansion during the latest phase of the year, thus complementing the demand-side developments.
ZEC’s fifth wave awaits confirmation
On the 24-hour chart at time press time, Zcash’s price structure had completed four stages of a developing Elliot impulse wave sequence, as Wave (5) awaited confirmation.
Notably, wave (1) advanced towards the $850 region after breaking out of its consolidation range before Wave (2) retraced towards the $813.95 support zone.
The bulls then drove Wave (3) sharply higher, with the ZEC price reaching the $1,295–$1,298 resistance region. This third-wave impulse wave remained the strongest leg, satisfying a key condition for the developing motive structure.
Subsequently, wave (4) then pulled ZEC towards the $1,054.72 zone without overlapping the Wave (1) peak, protecting the bullish sequence. At press time, Zcash price had reversed to $1,138.89, as RSI cooled to 62.37 from the recent overbought conditions.
The five-wave cycle, however, still needs Wave (5) confirmation, and a sustained advance above the $1,295–$1,298 supply zone would strengthen that confirmation and open a path to the $1,500 possible target.
Alternatively, losing the $1,054.72 support would instead challenge the current wave count, and raise the risk of a truncated Elliott impulse wave.
Final Summary
- Whale accumulation and taker buying strengthened ZEC’s demand during its latest recovery.
- ZEC’s developing Elliott impulse wave now awaits Wave 5 to confirm the bullish cycle structure.
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