In March, the Zcash network recorded notable milestones as both hashrate and shielded supply reached their highest levels in history. Analysts expect new demand to help ZEC recover part of the decline recorded since the beginning of the year.
At the same time, community discussions around Zcash have turned more positive as the earlier team crisis has temporarily subsided.
Zcash Miner and Investor Sentiment Recovers in March
The Zcash network hashrate suddenly surged to 16.54 GS/s in March, according to data from 2Miners.
Hashrate represents the total computational power contributed by miners on the network. This increase indicates stronger participation from the mining community. It also reflects miners’ confidence in Zcash’s long-term price outlook and the potential profitability it may deliver.
At the same time, the total amount of ZEC held in the shielded pool increased from 5 million to 5.15 million ZEC during the month, setting a new record.
Shielded supply refers to the total ZEC transferred from transparent addresses to private addresses. Once ZEC enters this zone, it becomes part of a shared liquidity “pool” where outsiders cannot see the exact balances of individual wallets.
The increase to 5.15 million ZEC, equivalent to about 31% of the circulating supply, demonstrates a clear rise in the adoption of Zcash’s core privacy feature.
“Another shielded ZEC ATH. 3 back to back ATHs as well as a 20% gain on the day. time to build the machinery of freedom,” Mert Mumtaz, CEO of Helius Labs, stated.
Data from LunarCrush shows that community sentiment reached 88% positive this week, while Zcash’s AltRank jumped to #10 from the previous average of 522. Average daily trading volume also increased 34% week-over-week, reaching $486 million.
These metrics reflect surging interest from the community and investors. Recent positive developments may have contributed to this momentum. For example, Foundry Digital, the operator of the world’s largest Bitcoin mining pool, recently revealed plans to launch an institutional-grade mining pool for Zcash.
In addition, Zcash Open Development Lab (ZODL), an independent development entity formed in early 2026, raised $25 million from Paradigm, Andreessen Horowitz’s crypto arm, and other institutions.
These developments have eased concerns that emerged earlier this year after the entire former development team at Electric Coin Company departed.
Some analysts remain optimistic. They believe that if the current momentum continues, ZEC’s price could reach $400.
At the time of writing, ZEC trades around $268. The asset has recovered nearly 40% in March. However, it remains more than 60% below its peak of $750 recorded in November last year.
