Coinbase Prime’s 2.6% ZRO Whale: No VIP Pass, Just a Very Expensive Bag

A mysterious degen has quietly assembled a $47.5 million bag of LayerZero’s ZRO—about 24.5 million tokens, or a cool 2.6% of the entire circulating supply. On-chain sleuths at Nansen followed the breadcrumbs to nine wallets, all topped up by a single sugar daddy: Coinbase Prime.

This shopping spree began in early March, precisely three weeks after LayerZero unveiled its Zero chain. The suspiciously perfect timing had the rumor mill churning about an insider, but CEO Bryan Pellegrino claims he doesn’t know the whale and insists he’s told every fund and institution to get their ZRO the old-fashioned way: on the open market—no backroom deals, no friends-and-family discounts.

The Zero chain, scheduled for a fall 2026 launch, already has a cheer squad that reads like a Fortune 500 guest list, featuring Citadel Securities, Tether, Ark Invest, and Google. Whether our anonymous whale is a true believer or just planning a spectacular dump at launch remains the multi-million-dollar question.

On the charts, ZRO has pumped 60% from its gloomy $1.49 low, recently tapping the $2.5 level—a price zone that has acted like a brick wall for bulls since the second half of 2025. Previous recovery attempts in January and February were politely shown the door at that very ceiling. Analysts muse that a dip back to $1.5 might lure in the late-buying degens, while a clean break above $2.5 could send the rally charging toward $3.3.

Over 34 million ZRO tokens were scooped up around the $2.5 area, a concentration so dense it could convince break-even holders to finally take profit and add some serious selling pressure. For now, the 14-day average Holder Net Position Change is showing green bars, meaning holders are still adding to their stacks—a shift to red, however, would signal a sell-off and could cement $2.5 as a permanent headache for anyone bullish.