Zcash (ZEC) Surges Despite Unclear User Adoption Metrics
- Zcash (ZEC) is trading at $671.33, outperforming Bitcoin and Ethereum during recent market fluctuations.
- Daily transactions temporarily exceeded 70,000 due to Zerdinals, but transparent senders remained between 8,000 and 14,000.
- The shielded supply of Zcash has increased from approximately 1.2 million to over 4 million ZEC in recent years.
- About 30% of Zcash’s supply is now in shielded addresses that cannot be held on exchanges.
- Monero (XMR), the leading privacy coin, maintains a stable transaction count between 20,000 and 30,000 daily.
Despite its price rally, Zcash’s user adoption remains ambiguous due to its privacy model that obscures standard blockchain metrics. The increase in shielded transactions suggests private-side adoption is occurring without visible growth in new users.
With no clear uptick in measurable users for Zcash or Monero, the current price surge may not reflect broader market trends but rather specific liquidity dynamics within Zcash itself.Source
