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- The Zcash price poised for 15% drop to $194 support, as the asset witnessed renewed selling pressure at wedge pattern resistance.
- Morgan Stanley submitted an updated S-1 filing for a spot Zcash ETF, adding Fidelity as a custodian alongside Coinbase Custody and BNY Mellon.
- The coin price back below the daily exponential moving averages (20, 50, 100, and 200) indicating the market sentiment supports prolonged correction.
$ZEC, the native cryptocurrency of Zcash shows low volatility trading around $236 floor on Friday March 20th. Earlier today, the coin price attempted a bullish breakout from the $250 resistance but witnessed an immediate reversal which created a long-wick rejection candle in the daily chart. Despite overhead supply, Zcash recorded sustained on-chain privacy adoption, which bolstered its underlying value rather than just market hype.
Zcash Sees Surge in Shielded Pools as Privacy Adoption Accelerates
Zcash, the leading privacy-focused cryptocurrency, recorded a steady growth of $ZEC tokens held in shielded pools over the past five years. In a recent tweet, market analyst eyezenhour highlighted that more of the asset supply is moving into the network’s privacy layer rather than remaining in the transparent circulation.
By the last quarter of 2025 approximately 5.07 million $ZEC in shielded pools which equates to 30.8% of the total circulating supply. This figure represents a multi-year trend toward migration in privacy features with the percentage increasing sharply in 2025 from previous levels of around 10-11%.
Alternatively, the $ZEC buyers must breach the key resistance trendline of the wedge setup to recoup growth grip over this asset.