Zowie! Zcash Does a Whopper!

by

Blimey! Zcash, that sneaky little rascal, pulled a fast one during the latest market hullabaloo, zooming all the way up to $35.69! Seems traders were stashing away tokens like squirrels burying nuts for winter. 🐿️

With the crypto markets doing a bit of a jig, Zcash (or ZEC, as it likes to be called) decided to show off. On Tuesday, April 8, it bounced up 15% to a dizzying $35.69 before settling down for a nice cup of tea at $34.49. This happened just as Bitcoin was playing peek-a-boo above $80,000, before it chickened out and went back to $77,422. 🙈

Those clever on-chain metrics are also whispering sweet nothings about traders feeling all warm and fuzzy about this privacy gizmo. Just the day before, the Zcash shielded pool went bonkers, reaching an all-time high on Monday, April 7, with nearly 2.9 million ZEC! According to the Zcash folks themselves, as of April 8, it’s sitting pretty at 2.54 million, which is about 15.9% of all the tokens wiggling around. 😮

Meanwhile.. Zcash shielded pool ATH again.. $ZEC

— sneaky (@SneakyAlgo) April 7, 2025

Zcash Sees a Whopping Number of Tokens Disappear!

Shielded supply, you see, is all about the tokens hiding in z-addresses. Unlike those other boring wallet types, these addresses keep everything secret – the amount and where it’s going! It’s like a magic trick! ✨ This shielded business is often seen as a sign that people trust the network for the long haul.

Now, 🤑

This record-breaking shielded supply also suggests that more and more people are using Zcash’s privacy doohickeys. Like its cousin Monero, Zcash is all about keeping things hush-hush, letting you do completely anonymous transactions on the blockchain. 🤫

But hold your horses! This privacy mumbo-jumbo has caught the eye of the regulators, who are a bit suspicious because of those AML and KYC worries. Back in 2022, the U.S. Department of Homeland Security even hinted that they were cooking up ways to track transfers on these blockchains. Bother! 😠

Read More

2025-04-08 20:50