Zcash Token ZEC recently broke through $1,000, reaching above $1,050 at one point during trading. As the price strengthens, the supply structure of privacy pools on the chain is also changing rapidly. Market attention is no longer solely on the increase in price but has also shifted to whether funds will remain in the new pools after the network upgrade in July.
Orchard supply shifts to Ironwood
On-chain data shows that the supply of ZEC in the Orchard pool approached 4.5 million at the beginning of June, before continuously declining thereafter. By the beginning of September, the scale of Orchard had dropped to approximately 455,000 coins.
Correspondingly, the supply of the Ironwood pool has risen rapidly. On July 28th, the pool contained approximately 132,900 coins, and by early September, it had increased to 3.86 million coins, indicating that a large amount of supply has been transferred from the Orchard pool to the new pool.
The Sapling pool still maintains over 500,000 coins, while the Sprout pool exceeds 20,000 coins. Overall, the supply related to Zcash masked addresses has not disappeared but has been redistributed among different pools.
Confidence rebounded after the hard fork in July
This migration took place after the Ironwood hard fork in July 2026. The focus of this upgrade was to fix a critical security vulnerability that affected the Orchard pool.
According to the text, a secure turnstile migration method was adopted during the upgrade, allowing the affected supply to be transferred to a new pool without altering the total supply of ZEC. This has been seen by the market as a key signal that the relevant assets have not lost their integrity due to the vulnerability.
After the security issues were resolved, market sentiment significantly improved. The text mentions that since the rebound from the support level around $374 for ZEC, there has been a cumulative increase of about 180%. This area also roughly coincides with the 200-day moving average.
After breaking above $1,000, attention should be paid to the $1,100 level.
With the price breaking through $1,000 in the past 24 hours, ZEC has entered a new phase of price exploration. Since the previous resistance zone has been broken through, the short-term reference points have now shifted more towards integer levels and support from moving averages.
- $880 is considered a near-term pullback observation level.
- $805, corresponding to support near the 20-day moving average
- $670, corresponding to the area near the 50-day moving average
If the buying pressure continues, the market will next focus on whether the level of $1100 can be tested. If the price falls below $880 again, the pullback pressure may expand to around $805.
In addition, the article also mentions that a holder purchased 22,840 ZEC between 2022 and 2024, investing approximately $1.1 million. According to the figures in the article, this position is currently worth about $23 million, with a floating profit of around $22 million. This case has further amplified market attention to the trend of this round of ZEC.
