A leveraged rally shows up as funding rates pinned at the cap and shorts being squeezed. This one shows neither. Funding on the three largest perp venues averaged 0.006% per eight hours, short liquidations never exceeded $16M a day, and the biggest liquidation days were longs being flushed on up-days.
Coinmico Editorial·Sep 23, 2026·5 min read
Independent analysis · figures from Coinmico's own index
About Zcash (ZEC)
Zcash is a privacy-focused cryptocurrency that uses trustless zero-knowledge proofs to enable fully encrypted transactions while maintaining blockchain transparency and security. It was the first cryptocurrency to implement zero-knowledge encryption for private peer-to-peer payments, addressing the fundamental privacy gap in traditional cryptocurrencies that expose transaction details publicly.
With a fixed supply of 21 million ZEC and a halving schedule similar to Bitcoin, Zcash allows users to prove transactions are valid without revealing sensitive information like wallet balances, transaction amounts, or participant identities, making it suitable for everyday payments, long-term savings, and cross-border money transfers where financial confidentiality matters.
The protocol operates on its own blockchain currently using Proof-of-Work consensus, though it's evolving toward Proof-of-Stake through the planned "Crosslink" upgrade to enhance security, scalability, and energy efficiency. Zcash employs trustless zero-knowledge proofs (Halo) within its Orchard shielded pool to verify transactions without revealing sender, receiver, or amount information.
Users can choose between transparent public transactions and shielded private transactions through Unified Addresses, which work with both types. The network is faster and cheaper than Bitcoin, with new blocks mined every 75 seconds and transaction fees typically just a fraction of a cent. Privacy adoption has surged in 2025, with over 30% of total ZEC supply now held in fully shielded pools.
Zcash was created by a group of scientists in 2013 who initially proposed Zerocoin as a privacy extension to Bitcoin before building a standalone protocol. The ecosystem operates with a self-funded development model where block rewards support independent teams through the Zcash Community Grants Committee and a new Coinholder-Controlled Fund.
Zcash turned over $858,215,338 across the venues Coinmico indexes in the last 24 hours, which is 4.19% of its market capitalisation — a figure worth watching, because turnover well above its usual level tends to accompany the sharper moves.
The highest price our index has recorded is $1,683.25 on Sep 26, 2026, leaving ZEC −28.27% from that peak.
The lowest is $29.19 on Mar 10, 2025, putting the price today +4,036% above that low.
Measured on Coinmico's own index since Dec 31, 2024, not on prices reported by someone else.
Zcash is valued at $20,503,202,272, which ranks it #10 among the assets we track. It is the price of one coin multiplied by the 16,981,864 ZEC in circulation.
At today's price, the full supply of 21,000,000 ZEC would be worth $25,354,533,632. 80.87% of that supply is already circulating, so the rest is what dilution would still add.
The price of Zcash (ZEC) is $1,207.36 today with a 24-hour trading volume of $858,215,338. This represents a 3.58% price decrease in the last 24 hours and a 10.16% price decrease in the past 7 days. With a circulating supply of 17 Million ZEC, Zcash is valued at a market cap of $20,503,202,272.
Technical analysis
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