Zcash's Shielded Supply Hits Record 5M Amidst Market Downturn » CoinEagle

Key Points

• The shielded Zcash supply briefly surpassed 5 million, with coins moved to the Orchard Pool for enhanced privacy.
• The increase occurred amidst a significant market crash affecting most cryptocurrencies, with Zcash maintaining around a $400 trading value.

The shielded supply of Zcash recently exceeded the 5 million mark, a historic high. This was achieved as holders transferred their coins to the Orchard Pool for improved privacy. Interestingly, this occurred during a significant market crash that affected most other cryptocurrencies. Despite this, Zcash continued to trade around the $400 price level.

The data was retrieved from the zkp.baby dashboard on November 4, 2025, using daily stats from the previous 24 hours. The chart showed a spike to 5.03 million ZEC, which has since retraced back to 4.97 million. This amount is currently valued above $2 billion, accounting for 30.41% of Zcash’s circulating supply and market capitalization.

Understanding Shielded Zcash

Shielded Zcash refers to ZEC coins deposited in the Orchard Pool. These are held by special addresses that begin with either a “z” or a “u”. Thanks to zero-knowledge proof technology, these addresses’ balances and transaction history are hidden, providing total anonymity to users.

From an economic standpoint, shielding Zcash indicates a desire not just to increase user privacy, but also to hold or use the coins within the shielded ecosystem. This reduces the available supply for sales on exchanges, as most of these services only support transparent addresses.

Typically, an increase in the total shielded amount reflects a market dominated by high-conviction buyers. These buyers withdraw ZEC to self-custody and shield it for long-term holding, without the intention to sell it in the short term. This scenario can contribute to Zcash’s price growth and resilience.

Zcash Performance During Market Crash

The week began with a market crash, with most cryptocurrencies experiencing significant losses since November 3. Bitcoin dropped below the $102,000 mark, revisiting the lowest levels reached during the unprecedented crash on October 10-11 that liquidated $19.35 billion in trading positions.

In the last 24 hours (UTC+8), $1.33 billion in liquidations were reported, and the number continues to rise. Despite this, Zcash remains strong, trading around the $400 price level with significant volatility. At its current price, ZEC has seen 956% gains year-over-year, a more than 10x increase in purchasing power for Zcash holders.

As developments continue, Zcash, now the leading privacy coin, is proving its value, resilience, and demand. The total shielded amount serves as a leading indicator for market and user behavior worth monitoring.