Zcash Trust Volume Doubles as Shielded Supply Hits Record 30%

Zcash Trust Volume Doubles as Shielded Supply Reaches Record 30%

The Grayscale Zcash (ZEC) Trust, listed under the ticker ZCSH, has seen its average daily volume more than double in April, reaching approximately $1.7 million. This figure represents the highest daily volume since January, although it remains below the levels observed at the end of 2025, as reported by The Block's Data-and-Insights team.

In parallel, the shielded supply of the privacy network has surged to a record 30% of the total circulation. The Orchard pool, which utilizes zero-knowledge proofs, has grown from 1.92 million ZEC to 4.55 million ZEC over the past year. This increase in shielded supply is indicative of a growing institutional demand for regulated privacy exposure.

Analysts suggest that the concurrent developments point to an increasing institutional interest in privacy trades, with ZCSH activity being interpreted as a real-time barometer for this demand.

As of the latest trading session, ZEC was priced at approximately $332, significantly above its February low of $191, yet still capped below the resistance area around $400. The token has shown a strong recovery in recent weeks, particularly following the launch of a Zcash mining pool by Foundry in April.

A confirmed breakout above the $400 mark could pave the way towards $457 and $527, while failing to maintain the $300 level risks a decline back to the $240 zone.

Key Insights

• Grayscale Zcash Trust's average daily volume reached $1.7 million in April.
• Shielded supply of ZEC has increased to 30% of total circulation.
• ZEC trading at approximately $332, recovering from a February low of $191.
• Potential breakout above $400 could lead to further price increases.

Source: Yellow.com

Sources:

• Zcash-Trust-Volumen verdoppelt sich, während geschützte Versorgung einen Rekordanteil von 30 % erreicht