Interesting on-chain signals have emerged. A large transfer of over 200,000 ZEC was made 13 hours ago, flowing onto the chain, with a transfer volume of $88.28 million at the time, and the market price was about $437. Coincidentally, ZEC then rose by 12% on the same day. Is this driven by whales accumulating on dips, or are institutions sensing something in advance? Such large withdrawals typically reflect the holder's market outlook—either optimistic about future trends and actively increasing their holdings, or strategically building positions at key support levels. It is worth monitoring whether ZEC can continue this upward momentum and whether similar large on-chain activities will occur.