Wallets tied to alleged Bitkub cofounder move 34,100 ZEC to Hyperliquid; 24,100 ZEC swapped for 238 BTC
AI Market Summary
Onchain monitoring indicates a wallet cluster allegedly tied to Bitkub's cofounder moved ~34,100 ZEC to Hyperliquid and sold ~24,100 ZEC to acquire 238 BTC. The flow implies concentrated sell-side pressure and potential near-term liquidity impact for ZEC on the venue, with ~10,000 ZEC still on-platform and additional sell orders visible. BTC is a secondary beneficiary via rotation.
Impact level
● Medium
Affected assets
ZEC/USDT-1.88%
AI Insight · ZEC/USDTAI Insight
● Neutral
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Odaily Planet Daily reports that, based on MLM monitoring, a wallet cluster suspected to be linked to Sakolkorn Sakavee, cofounder and former chairman of Thai crypto exchange Bitkub, transferred about 34,100 ZEC (roughly $26.1 million) to the decentralized exchange Hyperliquid over the past 24 hours. On-chain data indicates the cluster then sold around 24,100 ZEC (about $18.5 million) to buy 238 BTC. About 10,000 ZEC (around $7.6 million) remains on Hyperliquid, with associated sell orders placed near $780.
