1 · Big holders
NewETF and Cypherpunk hold about 5% of ZEC; ETF outflows started.
Data
| Date | Grayscale ZCSH (ETF) | Cypherpunk (CYPH) |
|---|---|---|
| Aug 25 2026 | 388 K ZEC | — |
| Aug 31 2026 | — | 326 K ZEC |
| Sep 3 2026 | 429 K ZEC | — |
| Sep 18 2026 | 596 K ZEC | — |
No single dated event in the next 90 days.
Miners earn new ZEC every block, and nothing burns.
ZEC is the coin of Zcash, a private payments chain capped at 21M: 16.98M coins circulate, all of them unlocked.
Sell pressure. Mining is the only new supply: 161,241 ZEC in 90 days, 12% of it into a lockbox that coinholders steer. Nothing vests, and fund payouts stay inside the float.
Buy pressure. Nothing is bought back or burned; fees still go to miners.
Net. Net, supply grows about 0.95% in 90 days, and the same next.
Mining is the only way new ZEC is made: 1.5625 ZEC per block, about 1,792 a day. Of each block, 80% goes to the miner, 8% to a community grants fund and 12% to a protocol lockbox that coinholders steer. Over these 90 days 103,194 blocks added exactly 161,240.6 ZEC. The upgrade planned for Nov 5 2026 makes blocks three times faster and cuts the reward per block by three, so the coins per day stay the same.
ZEC had no token sale and has no vesting. The founders' share was paid from mining and ended by protocol rule in Nov 2020; blocks today carry only the miner, the grants fund and the lockbox.
We track four team-side pots, all already counted as circulating: the protocol lockbox (~68.94K ZEC, growing 0.1875 per block, paid out only by coinholder vote or upgrade), the coinholder multisig (~78.18K, unmoved since Apr 14 2026, with about $8.39M of approved grants still to pay), the Zcash Foundation (78,986 ZEC at Jun 30 2026) and the grants fund address (~464 ZEC, paid out often). A payout moves coins between holders and adds no new supply.
No bankruptcy estate, trustee or long lock holds ZEC. Funds and listed companies that hold ZEC bought it in the market, so those coins were already in the float.
Nothing buys ZEC back. Block rewards and fees go to miners and the two funds above; no contract or treasury repurchases coins.
Today all fees go to miners, and supply rose by exactly the block rewards, so nothing was destroyed. The planned upgrade would set aside 60% of fees, but fees are only about 1.27 ZEC a day: about 50 ZEC by Jan 9 2027. Its date is not fixed yet, so we do not count it.
No project fund buys ZEC. Listed companies and exchange-traded funds do buy, but in the open market, from coins already circulating.
The planned upgrade makes about 22.31K ZEC left in the oldest private pool unspendable; 3,100 ZEC moved out in these 90 days. Those coins stay in the supply count, so the float does not shrink. Shielded coins are private, not locked.
Two sides: how much people want ZEC right now, and how much buying could come later.
This part is based on social media. It shows how hot ZEC is right now. A better rank means more people are talking about it.
Today, people are talking about ZEC for two reasons:
On Oct 16 2026 the Zcash Foundation shipped the node software that runs NU7 on testnet, and the teams agree on a Nov 5 2026 mainnet date. NU7 makes blocks come every 25 seconds instead of 75, with the same total new ZEC per day. People ask if the date will hold, and what happens to very old Sprout coins that will be stuck after the upgrade.
On Oct 17 2026 crypto investigators said thieves from several recent hacks, including about $3.8 million from a Bitget exploit, are moving the money into private ZEC. ZEC fell almost 5% that day, to around $1,167. People ask if this will bring more pressure from regulators and exchanges, or if it just shows the privacy works.
Checked Oct 17 2026
Based on the law of supply and demand, the long-run signal for Zcash is positive. As of Oct 18 2026, score 7.5/10, Zcash faces +0.95% new supply over 90 days, with demand exceptional (5/5). Zcash's price drivers: 1 ▲ price up, 0 ▼ price down.
ETF outflows are probably part of it. The ETFs and Cypherpunk hold about 5% of ZEC, and money has started to leave the ETFs. New supply adds weight too: +0.95% in the next 90 days. Still, demand reads exceptional at 5/5 (Oct 11 2026). By supply and demand, Zcash's long-run signal is positive today.
Not dead, but Jul 10 2027 is a real test. That day EU exchanges must drop ZEC, while the US has opened ZEC ETFs. Today Zcash scores 7.5/10 on our framework and is worth about $20.9B in total (Oct 11 2026). Our supply-and-demand read for Zcash stays positive.
It would take 8.1 times today's value: $10,000 × Zcash's coins in the market = about $170B, against $20.9B now (Oct 18 2026). Zcash's supply also grows +3.85% in the next year, so every extra coin needs buyers too. By supply and demand, Zcash's long-run signal is positive today.
Today the signal is positive. Supply and demand would point the other way for Zcash if new supply keeps arriving (+0.95% in 90 days), or demand falls from exceptional. Next date to watch for Zcash: Jul 10 2027 — EU privacy-coin ban.
On our framework Zcash scores 7.5/10 (Oct 18 2026), with supply 2.5/5 (moderate) and demand 5/5. In the next year Zcash's supply changes +3.85%, so the long-run signal reads positive.
The law of supply and demand points to one window for Zcash: low new supply, high demand, drivers pointing up. Where Zcash stands today: +0.95% new supply in 90 days (moderate), demand exceptional (5/5), drivers 1 ▲ / 0 ▼.
Zcash has 3 price drivers today (1 ▲ price up, 0 ▼ price down). • Big holders: ETF and Cypherpunk hold about 5% of ZEC; ETF outflows started. ▲ Private pool bug: 350K ZEC still in the old pool; 4.1M moved safely. • Privacy-coin rules: US opened ZEC ETFs; EU exchanges must drop ZEC Jul 10 2027.
Zcash reads positive at 7.5/10; Bitcoin reads positive at 8.5/10 (Oct 18 2026). On supply and demand, Zcash looks weaker than Bitcoin today.
Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →
We look at two things, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. ZEC supply grows +0.95% in the next 90 days, so it shows in red: more ZEC reaches the market than is removed. Zero or falling supply is always green, any growth is red.
One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.
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