Zcash Shielded Value Surpasses $1.12 Billion, 27% ZEC Untraceable
The market capitalization of Zcash has been consolidating above $1 billion as both its price and the amount of shielded coins increase despite market volatility.
- Zcash uses anonymous transaction pools for privacy, with the Orchard pool being the most advanced, utilizing zero-knowledge proof encryption.
- As of October 13, the total value in Zcash's shielded pools is $1.12 billion, maintaining a consistent market cap around $1 billion since late August.
- Recent data shows a shielded percentage increase to 27%, with over 4.42 million ZEC shielded.
- Net inflow to the Orchard pool exceeded 600,000 ZEC in the past five days, indicating increasing long-term holdings.
Zcash (ZEC) Price Analysis
- ZEC is trading at $253, with a market cap of $4 billion, up 635% from its August low.
- Despite recent gains, Zcash faces resistance at the $300 level and has seen a 14% decline from its local high.
A prediction on Polymarket suggests a 67% chance of Zcash surpassing Monero in market capitalization by year-end. Privacy concerns continue to boost Zcash's performance and interest.