More than 4.5 million ZEC now sit in the shielded pool—about 27% of circulating supply. Those coins no longer show up on open order books, reducing the amount traders can see and touch. The shift touches every holder, every exchange and every service that leans on Zcash privacy, because it shrinks the share of supply that sits ready for sale.
Fresh numbers show that, in only five days, users moved over 600,000 ZEC into shielded addresses. The grand total now exceeds 4.5 million. Shielded addresses rely on zero knowledge proofs (zk-SNARKs); when you use them, the chain hides sender, receiver and amount. In plain words—once ZEC enters a shielded address, the protocol stops tracking it.
Data show that most of those coins stay idle. Josh Swihart, CEO of Electric Coin Company, puts it bluntly: “People who shield ZEC do not sell.” That pattern looks more like long term storage than the usual buy-then-sell loop. Big holders keep adding and shielded wallets are easier to use than before—the flow will likely continue.
On the price chart, Zcash has bounced hard—since August it climbed 635% and now trades near $38–$45. Its all time high sits close to $6,000. Betting sites also price in further gains and several forecasts see medium term rallies ahead.
Implications for ZEC’s price
A growing shielded pool in the Zcash network is beginning to show clear market effects. With around 27% of all ZEC now hidden from the open market, the visible supply continues to shrink. On-chain data and trading quotes suggest that coins moved into shielded balances tend to remain there—reflecting a “hold, not sell” behavior among privacy-focused holders.
However, the market remains finely balanced. If a handful of large holders control much of the shielded supply, even a single liquidation could swing prices sharply. Forecasts remain mixed: traders currently assign a 67–69% chance that ZEC reaches $300 before November.
Prediction markets price a $300 ZEC before November. That level will tell whether the rush into shielded addresses truly fuels a lasting rise.
