Shielded Zcash Supply Reaches 5M All-Time High Despite Market Crash

Key Notes

• The shielded ZEC supply represents 30.41% of total circulation, signaling strong holder conviction and reduced exchange selling pressure.
• Zcash maintains relative stability around $400 despite a market-wide crash that liquidated $1.33 billion in 24 hours.
• ZEC holders achieved 956% year-over-year gains, demonstrating 10x purchasing power growth and market resilience.

The shielded Zcash supply has briefly crossed the 5 million mark, with holders moving their coins to the Orchard Pool for increased privacy. This all-time high amount was achieved during an expressive market crash affecting most other cryptocurrencies, while ZEC

ZEC
$406.4



24h volatility:
1.2%


Market cap:
$6.72 B



Vol. 24h:
$2.29 B

remained trading around the $400 price level.

Coinspeaker retrieved this data from the zkp.baby dashboard on November 4, 2025, filtered by daily stats looking at the previous 24 hours. In the chart, we can see a spike to 5.03 million ZEC, now retraced back to 4.97 million—currently valued above $2 billion, accounting for 30.41% of Zcash’s circulating supply and market capitalization.

Zcash: Total shielded value, USD value, and percentage, as of Nov. 4, 2025 | Source: zkp.baby

Shielded Zcash is the name given to ZEC coins deposited in the Orchard Pool, held by special addresses that start either with a “z” or a “u” and, thanks to the zero-knowledge proof technology, hide these addresses’ balances and transaction history—offering total anonymity to its users.

From an economic perspective, shielding Zcash signals a willingness to not only increase the user’s privacy but also to hold or use the coins within the shielded ecosystem, which reduces the available supply for sales on exchanges, as most of these services only support transparent addresses.

Usually, an increase in the total shielded amount reflects a market made mostly by high-conviction buyers that are withdrawing ZEC to self-custody and shielding 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 resiliency, as we have seen recently.

Zcash Price Amid the Market Crash

The week started with a market crash as most cryptocurrencies experienced significant losses since November 3. Bitcoin

BTC
$101 038



24h volatility:
5.3%


Market cap:
$2.02 T



Vol. 24h:
$93.33 B

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.

According to a Coinspeaker report earlier today, the last 24 hours saw $1.33 billion in liquidations, which continue increasing as of this writing.

Yet, Zcash remains strong, trading around the $400 price level with notable volatility up and down in a range that goes between $380 and $440 in the daily chart. At its current price, ZEC accumulates 956% gains year-over-year—more than a 10x increase in purchasing power for Zcash holders, with notable growth since August, as Coinspeaker reported.

Zcash (ZEC) price as of November 4, 2025, with accumulated gains YoY | Source: CoinMarketCap

As things develop, the now-leading privacy coin is proving its value, resiliency, and demand in people’s minds and wallets, with the total shielded amount being a leading indicator for market and users’ behavior worth monitoring.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.

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