ZEC’s Mysterious Surge: Can Onchain Data Keep Up? 🚀

by

Markets

What to know:

  • Zcash, that sly fox, outperformed Bitcoin and Ethereum, but its user base remains as elusive as a shadow in a moonlit forest. 🧠
  • The transaction surge? A fleeting spectacle, like a firework that burns bright but leaves no trace. 🔥
  • Monero, the quiet giant, still reigns supreme in the privacy realm, its transactions as steady as a heartbeat. 💡

Good Morning, Asia. Here’s what’s making news in the markets:

But behind the scenes, it doesn’t look like the user base has caught up to its stratospheric rally. 🌌

Zcash’s privacy model is a riddle wrapped in an enigma, a labyrinth where even the most seasoned analysts wander aimlessly. 🕵️‍♂️

A growing share of activity now occurs within shielded pools, where addresses, amounts, and flows vanish like smoke. 🌫️

The only conspicuous surge in visible throughput came from Zerdinals, an inscription wave that temporarily pushed daily transactions above 70,000. But let’s not get too excited-this was a party with a guest list of one. 🎉

Shielded activity cannot be measured directly, but it’s unlikely to account for a seven-fold increase in transparent throughput on its own. It’s like trying to count the stars while wearing a blindfold. 🌟

Behind the scenes, Zcash has been steadily migrating to the Orchard shielded pool. Shielded supply has climbed from 1.2 million to 4 million ZEC-impressive, but who’s counting? 📈

Unified Addresses, auto-shielding, and Zashi’s default-private UX appear to be pushing more flows into the shielded pool. It’s a private paradise, but the map is missing. 🗺️

If there were a broad surge in interest for privacy coins as a category, Monero would likely show it as well. Yet, it remains the calm in the storm. 🌊

XMR remains the dominant pure-privacy asset, and its transaction counts capture all usage because every Monero transaction is private but still counted at the protocol level. A paradox, if ever there was one. 🌀

Yet Monero’s throughput has held in its usual 20,000 to 30,000 daily transaction range, with no parallel rise in activity. Stability, the unsung hero of the crypto world. 🧘‍♀️

Zcash and Monero are not directly comparable because their privacy designs differ, but neither shows an expansion in measurable users. A curious case of two ships passing in the night. ⛵

The transparent data for Zcash shows no clear uptick in new participants, while shielded activity remains intentionally hidden. It’s like a magician’s trick-no one knows where the rabbit went. 🎩🐇

With roughly 30% of the supply now sitting in shielded addresses that cannot be held on exchanges, the resulting supply squeeze is making the price move faster than the visible network can explain. A game of chess where the pieces are invisible. 🏰

Until those private-side trends can be corroborated by user behavior, traders are likely paying a significant premium for ZEC. Like buying a lottery ticket with no numbers. 🎲

Market Movement

BTC: Bitcoin is trading near $86,800 after giving back its Nvidia-driven rally above $93,000. A rollercoaster with no safety harness. 🎢

ETH: Ethereum is hovering around $2,850 after slipping below $2,900 as selling from FG Nexus added pressure. A slow drip of despair. 💧

Gold: Gold is trading at roughly $4,077 after giving back its pre-NFP gains, sitting about 7% below its October peak yet still tracking toward a yearly increase of more than 50%. A phoenix rising, but with a hangover. 🦅

Nikkei 225: Japan’s Nikkei 225 fell 1.58% as hotter October inflation reinforced expectations for BOJ rate hikes and officials voiced fresh concerns over yen weakness. A symphony of economic anxiety. 🎻

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2025-11-21 06:08