Zcash Shielded Pool Hits 23% of Supply, Usage Surges
According to The Block’s November 12 report, Zcash’s shielded pool assets now account for 23% of total ZEC supply, up from 18% in October. This growth in the Zcash shielded pool underscores rising adoption of privacy features, as shielded transactions conceal sender, receiver and amount details. The expanding shielded pool has coincided with a surge in network usage, making transactions harder to trace and reflecting stronger demand for privacy in crypto markets.
Bullish
The rise in Zcash shielded pool ratio to 23% indicates growing use and trust in Zcash’s privacy features, enhancing network effects and likely boosting demand for ZEC. Historically, increased network activity and feature adoption tend to coincide with positive price movements. The simultaneous surge in network usage suggests momentum that could push ZEC higher in both the short and long term, despite potential regulatory scrutiny around privacy coins.