suspected Bitkub co-founder-related wallets continue to unshield and sell ZEC
BIBIBI
AT A GLANCE
Wallets suspected to be associated with Bitkub the co-founder have sold a large amount of ZEC, while positions and sell orders remain outstanding.
Article
suspected Bitkub co-founders sell the top ZEC，4 over a week of “foregone earnings”110000000 USD
PANews September 25 According to the report,MLM monitoring identified a group of wallets suspected to be associated with Sakolkorn Sakavee, co-founder of Thailand’s largest cryptocurrency exchange,Bitkub which cumulatively unshielded from shielded addresses over a period of time (unshield）65820 units ZEC, worth approximately 51600000 USD, accounting for approximately ZEC of the circulating supply 0.4%and currently shielded ZEC of 1.37%. Of these, they had sold Hyperliquid sold 53900 units ZEC, worth approximately 42300000 USD, and purchased 536.7 units BTC; approximately 10000 units ZEC remain in Hyperliquid, while approximately 8370 units ZEC, valued at 6600000 USD in sell orders remain pending execution.MLM The report said that the above wallets are still continuously unshielding ZEC and selling them through Hyperliquid, according to statistics, this address previously...
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🔗https://www.panewslab.com/zh/articles/01a0d840-9dea-7776-9c78-7046b85445da
Key points
01
According to MLM monitoring, a group of wallets suspected to be associated with Bitkub co-founder Sakolkorn Sakavee cumulatively unshielded 65820 units ZEC, worth approximately 51600000 USD。
02
The above amount accounts for approximately ZEC of the circulating supply 0.4%, as well as the currently shielded ZEC of 1.37%。
03
The wallet has sold Hyperliquid sold 53900 units ZEC, worth approximately 42300000 USD, and purchased 536.7 units BTC。
04
Approximately 10000 units ZEC remain in Hyperliquid, while approximately 8370 units ZEC, valued at 6600000 USD in sell orders remain pending execution.
05
MLM The report said that the above wallets are still continuously unshielding ZEC and selling them through Hyperliquid.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The report relayed on-chain monitoring information: a wallet suspected to be associated with Sakolkorn Sakavee first unshielded ZEC in a shielded state, then sold them through Hyperliquid, with part of the funds used to purchase BTC。
Why it matters to readers
Continued unshielding and selling may increase the tradable supply of ZEC in the market; however, the wallet attribution remains only suspected, and it remains to be seen whether the remaining positions and sell orders will be executed.
ZEC is a crypto asset; “unshielding” means that an asset changes from a shielded state to an identifiable or tradable state, while a “sell order” is an order planned for sale that has not necessarily been executed.
Risks and unknowns
The wallet’s association with Bitkub co-founder Sakolkorn Sakavee has not been confirmed.
The original text does not provide complete on-chain data or the relevant wallet addresses that can be independently verified.
Approximately 10000 units ZEC and approximately 8370 units in pending sell orders; it remains unclear whether these orders will subsequently be executed.
The main text is truncated at “this address previously...”, so the complete historical information cannot be confirmed.
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ZEC
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