ZCash’s shielded pool has reached 23% of total supply, up from 18% in October, marking a steady progression in network privacy adoption.
The shielded pool functions by obscuring transaction details, making the entire network more difficult to trace as more ZEC enters this private state.
As covered in previous issues of The Block’s Data and Insights newsletter, shielding requires direct interaction with the chain, making it a useful indicator of genuine network usage rather than pure speculative positioning.
The growth in shielded supply offers an interesting parallel to Ethereum’s staking dynamics. Approximately 30% of ETH is currently staked to secure the network, and it will be worth monitoring whether ZEC experiences similar behavior or resistance as it approaches this threshold.
Both metrics reflect active participation in network operations rather than passive holding.
The increase in shielding coincides with significant price appreciation as ZEC surged from approximately $400 on Nov. 1 to as high as $750 last Friday, accompanied by substantial trading volume across exchanges.
At the time of writing, ZEC ranks second among Coinbase’s most traded assets by 24-hour volume, surpassing Ethereum with $345 million and $288 million, respectively.
The alignment between price performance and fundamental network activity represents a positive development. Rising shielded supply during a price rally suggests that increased attention is translating into actual protocol usage, not just speculative trading.
This contrasts with many other tokens, where traders have largely taken positions through derivatives rather than buying spot.
This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
