ZCash shielded pool climbs to 23% of supply as network usage surges
ZCash's shielded pool reached 23% of total supply, indicating increased genuine network usage alongside significant price appreciation.Summary
The ZCash shielded pool has grown to represent 23% of the total supply, up from 18% in October, signaling a steady increase in network privacy adoption. Shielding transactions obscures details, making the network harder to trace, and this metric is considered a strong indicator of genuine network usage rather than just speculative holding, as it requires direct chain interaction. This growth parallels Ethereum's staking dynamics, where active participation is measured. The rise in shielding coincides with a major price rally for ZEC, which surged from around $400 to $750, and ZEC recently ranked as Coinbase's second most traded asset by 24-hour volume. This alignment between price performance and fundamental network activity suggests that increased attention is translating into actual protocol usage, unlike many other tokens where activity is primarily seen in derivatives.
(Source：The Block)