A prominent Zcash-holder on Solana deployed $30.1K to acquire 3.22 million GHOST tokens, signaling renewed whale interest in the emerging privacy-token on Solana.
Key Takeaways:
- On-chain analytics show a ZEC whale spent $30.1K for 3.22M GHOST tokens.
- The wallet also holds 944 ZEC, with over $334K in realized profit from prior ZEC trades.
- GHOST token shows noticeable gains in the day, up over 100% over the past 24 hours and trading $0.01244 as of this writing (9:45AM UTC)
According to analytics shared by Lookonchain earlier today, November 16, a whale wallet on Solana (address E8wRXP…) deployed $30,100 to pick up 3.22 million GHOST tokens in a single swoop. This is a significant allocation for a relatively new and low‑cap privacy token, signaling what could be a long-term accumulation strategy by a high-net-worth ZEC investor.
On‑Chain Snapshot Highlights Investor Profile
The same wallet isn’t just flipping in and out, as it holds 944 ZEC, with an estimated value of around $650K, and has already realized more than $334K in profit from past ZEC trades. And this emphasizes that fact that this isn’t a beginner playing around with small gains; it’s a sophisticated investor executing a strategy across both ZEC and GHOST.
On-chain data shows the wallet’s recent GHOST purchase, as well as its main holdings. Source: Solscan
Lookonchain data also revealed that the whale’s average cost basis for GHOST sits near $0.00935 per token at today’s buy-in.
GHOST Rockets Over 100% in 24 Hours
As of this writing, GHOST is trading at approximately $0.01244, showing a massive gain of 113.9% over the past 24 hours. CoinGecko reveals that the token rallied up to its intraday high around $0.01499, climbing over 150% in the day. Intraday lows were seen around $0.00554, which suggests that the token made a significant upward momentum in today’s trading session.
The 24‑hour trading volume sits at roughly $4.81 million, indicating a sharp uptick in activity alongside the price spike. This sharp intraday move aligns with the whale accumulation activity and suggests momentum traders may be jumping in. However, such a rapid gain also raises the stakes for a possible pull‑back if profit‑taking kicks in.
Privacy Narrative and Product Catalysts Powering GHOST
GHOST is valued beyond its speculative potential, as the project is building actual privacy tools. According to recent updates, its GhostPay layer (for anonymous payments on Solana) is generating buzz. The team has also hinted at a “Ghost Triad” suite, which could include encrypted messaging, transaction obfuscation, and identity aliasing.
In addition, GHOST recently crossed 10,000 holders, a milestone that suggests growing community adoption. These developments demonstrate that GHOST is not just a hype play, as it has a product roadmap that might justify large whales taking meaningful stakes now.
Outlook
The $30.1K purchase of 3.22 million GHOST tokens by a ZEC whale underscores growing confidence in the privacy-focused Solana project. The strong price surge of over 100% in the past 24 hours highlights the market’s reaction to the accumulation, signaling that large investors are taking notice. While the whale’s move could support further upward momentum, GHOST remains a high‑volatility asset. Its long-term performance will depend on adoption of the GhostPay payment layer and execution of the broader Ghost Triad roadmap. For now, market participants are closely watching whether this surge can sustain itself or if profit-taking and volatility will temper the rally.
Summary
A ZEC whale on Solana spent $30.1K to buy 3.22M GHOST, coinciding with a >100% intraday surge for the token and renewed attention on GHOST’s privacy products like GhostPay.
