Wallets linked to suspected Bitkub co-founder Sakolkorn Sakavee have unshielded and sold 65,820 ZEC worth approximately $51.6 million over the past four weeks. On-chain monitoring indicates 53,900 ZEC were swapped for 536.7 BTC on Hyperliquid, with an additional $6.6 million sell order currently pending. The transactions represent roughly 0.4% of ZEC’s circulating supply and 1.37% of shielded funds.
The address has cumulatively sold 139,600 ZEC for about $111 million during this period. At current market prices, these holdings would be valued at $223 million, resulting in over $110 million in unrealized gains missed within the last month. Monitoring data shows the wallets continue to unshield and liquidate ZEC positions through Hyperliquid.
Suspected Bitkub Co-Founder Sells ZEC for BTC, Misses $110M in Gains
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
