A mysterious crypto trader has made some bold moves by placing big bets on Ethereum (ETH) and Zcash (ZEC) just before a major announcement from former President Donald Trump.

Trump is expected to sign an executive order on November 24 at 4:00 PM EST, focused on setting rules for artificial intelligence (AI) in the U.S. This comes as both AI and cryptocurrency continue to be hot topics in tech and policy. Recently, Commerce Secretary Howard Lutnick mentioned that Trump may consider letting Nvidia (NASDAQ: NVDA) sell high-end AI chips to China, showing how AI and international trade are closely linked.

Big crypto bets on ETH and ZEC

Just before this executive order, a large crypto investor—often called a “whale”—opened leveraged long positions worth millions of dollars on ETH and ZEC. According to blockchain data platform Lookonchain, the trader used Hyperliquid, a decentralized crypto trading platform, to make these trades.

The whale bet $32 million on Ethereum with 5x leverage and $19.4 million on Zcash with 10x leverage. This means the trader expects prices to go up and is borrowing money to amplify potential profits. Right now, they’re already sitting on about $1.5 million in unrealized profit.

Ethereum is the second-largest cryptocurrency after Bitcoin. It powers many decentralized apps (dApps) and smart contracts across the blockchain space. Zcash, on the other hand, is known for its privacy features. It uses advanced cryptography called zero-knowledge proofs (zk-SNARKs), which lets users send transactions without revealing details like who sent it, who received it, or how much was sent.

Crypto market showing signs of recovery

The overall cryptocurrency market has been climbing again. The total market cap has gone above $3 trillion, increasing by 2% in the last 24 hours.

Bitcoin (BTC), the world’s largest cryptocurrency, was trading at $88,645.47—up 1.26%. Ethereum (ETH) was priced at $2,967.58, rising 4.72%. Zcash (ZEC), however, dropped by 5.65% and is now trading at $570.94.

Solana (SOL), another major cryptocurrency known for its speed and low fees, also went up by 3% in the past day. It’s currently trading at $137.12 and holds the position as the sixth-largest crypto by market value.

In summary, with Trump’s AI order on the horizon and renewed interest in both crypto and tech, big investors are making strategic moves in anticipation of market shifts. Crypto traders and watchers are keeping a close eye on what comes next.