$ZEC On-Chain Metrics
Zcash shows strong on-chain activity with active addresses up 150% in the last 60 days, reaching the highest level since 2018, supported by a surge in weekly transactions from 30,000-40,000 to >100,000 in October 2025. Shielded supply increased to ~4.81 million ZEC (29.5% of total supply), with the portion of shielded transactions reaching an all-time high, indicating high privacy adoption even though it's hard to measure directly. Daily transactions ~6,152, positively correlated with prices that rallied 919% to $599+ before stabilizing at $387 USD.
$ZEN On-Chain Metrics
Horizen recorded exponential growth following its migration to Base ERC-20, with 24-hour trading volume at $365-367 million and a market cap of $294 million, indicating institutional liquidity in private DeFi. Token distribution is healthier: the top 100 holders control only 30% of the supply (a decrease in whale concentration), encouraging participation from retail and mid-sized investors. Fixed transaction fees stabilize supporting the privacy appchain ecosystem, with activity increasing alongside new listings on major exchanges.
Zcash shows strong on-chain activity with active addresses up 150% in the last 60 days, reaching the highest level since 2018, supported by a surge in weekly transactions from 30,000-40,000 to >100,000 in October 2025. Shielded supply increased to ~4.81 million ZEC (29.5% of total supply), with the portion of shielded transactions reaching an all-time high, indicating high privacy adoption even though it's hard to measure directly. Daily transactions ~6,152, positively correlated with prices that rallied 919% to $599+ before stabilizing at $387 USD.
$ZEN On-Chain Metrics
Horizen recorded exponential growth following its migration to Base ERC-20, with 24-hour trading volume at $365-367 million and a market cap of $294 million, indicating institutional liquidity in private DeFi. Token distribution is healthier: the top 100 holders control only 30% of the supply (a decrease in whale concentration), encouraging participation from retail and mid-sized investors. Fixed transaction fees stabilize supporting the privacy appchain ecosystem, with activity increasing alongside new listings on major exchanges.