Crypto Whales are Buying Two Privacy Coins and Dumping One

Privacy coins were among the standout winners of 2025, but 2026 has been far less forgiving. Several former leaders have slipped into sharp corrections, while newer names flash unstable rebounds. As February begins, crypto whales are no longer betting blindly.

Instead, they are buying and selling these three privacy coins selectively, guided by momentum shifts, early reversal signals, and chart structures that could define the next leg up (or down).

Zcash (ZEC)

Zcash has been one of the strongest privacy coins over the past year, but momentum cooled sharply heading into 2026. Over the last month alone, the ZEC price dropped nearly 26%, reflecting broader risk-off behavior. That weakness, however, is starting to shift as February approaches.

Over the past 24 hours, crypto whales have stepped in aggressively. Standard Zcash whales increased their holdings by 45.19%, lifting their balance to roughly 14,500 ZEC.

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At the same time, the top 100 addresses raised their exposure by 14.6%, pushing combined holdings to 43,722 ZEC.

In total, whales added approximately 6,500 ZEC, worth about $2.5 million at the current price. Exchange balances also declined during this period, reinforcing that this move reflects accumulation, not distribution.

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The chart explains why whales are acting now. Since late December, ZEC has been trading inside a bear flag, a bearish continuation pattern that projected a potential 42% downside.

However, that risk is now being challenged. Zcash has started pushing above the upper trendline of the flag, weakening the breakdown structure.

Momentum indicators support the shift. Between October 30 and January 25, the ZEC price formed a higher low, while the Relative Strength Index (RSI) made a lower low.

RSI measures momentum strength, and this mismatch signals hidden bullish divergence, meaning selling pressure was fading beneath the surface. Since that signal appeared, ZEC has already rallied about 24%.

The key level ahead is $449. A clean break above it would invalidate most of the bear flag and open room toward $561, where the bearish structure fully collapses.

On the downside, losing $325 would restore breakdown risk and invalidate the bullish whale thesis.

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Dusk (DUSK)

Among privacy coins, Dusk Network stands out for one reason: conflicting whale behavior. DUSK is still up nearly 200% over the past 30 days, possibly triggered by investors’ FOMO rush after missing DASH and XMR rallies. However, it has corrected more than 38% over the past seven days, creating a sharp divide between different holder groups as February approaches.

On-chain data shows smaller whales are trimming exposure, while larger players are doing the opposite throughout this seven-day pullback.

Standard crypto whale wallets reduced holdings by 7.22% during the decline. In contrast, top-100 addresses increased their stash by 13.88%, lifting total holdings to 464.44 million DUSK.

This implies roughly 56.6 million DUSK was added by mega whales during the correction, worth about $8.2 million at current prices.

This split makes sense when viewed through the chart.

DUSK is forming a potential inverse head-and-shoulders structure, but the neckline is downward sloping, which raises the difficulty of a clean breakout.

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The critical resistance zone sits between $0.176 and $0.190. A daily close above $0.190 would confirm the pattern and open a measured upside of roughly 68%, targeting $0.321–$0.330.

Momentum signals are early but improving. Between January 24 and January 28, the price is attempting to form a higher low, while RSI is printing a lower low, hinting at a hidden bullish divergence.

However, this setup only holds if the price stays above $0.140. A breakdown below that level would erase the divergence and expose downside toward $0.098.

In short, privacy coin whales disagree on DUSK. Smaller holders are de-risking after a sharp pullback. Mega whales appear to be buying into weakness, positioning for a possible neckline break.

Until $0.190 is reclaimed, this remains a high-risk setup rather than a confirmed trend.

COTI

Among privacy coins, COTI has quietly slipped into a correction phase. The token is down about 22% over the past month and 14% over the last seven days, reflecting sustained pressure inside a descending channel. But beneath that weakness, whale behavior suggests the selling phase may be slowing.

On-chain data shows a clear shift. Since January 13, COTI whales reduced holdings sharply, dropping from 733.46 million COTI to a low of 718.17 million.

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That distribution aligned with the channel breakdown risk and explains why the price remained weak through mid-January. However, that trend has started to change.

Since January 22, crypto whales have begun adding again, lifting holdings from 718.17 million to 719.1 million COTI. That is an increase of roughly 930,000 COTI.

This buying is still modest compared with earlier selling, which matters. It suggests early positioning, not full conviction.

The COTI price chart explains why whales are cautious but interested. COTI remains inside a descending channel, but momentum has shifted.

Between November 4 and January 25, the price made a lower low, while the RSI printed a higher low. That bullish divergence often signals that selling pressure is fading, even if the price has not turned yet. This kind of divergence often lines up with a trend reversal.

For that signal to matter, levels must break. A daily close above $0.019 is the first test. Clearing it opens the path toward $0.024, a potential 40% rebound that would neutralize the bearish structure.

Until then, downside risk remains. Losing $0.015 would extend the divergence timeline and expose deeper levels.