Large Zcash Unshielding Raises Supply Concerns

[AIcash]

In the first week of 2026, more than 200,000 ZEC was unshielded and brought into circulation, marking one of the largest privacy-to-transparent transfers in recent months. Unshielding converts funds from Zcash’s privacy-protected pools into transparent addresses, a step commonly associated with preparing assets for exchange transfers or liquidity events.

This single move represents roughly 1.2% of Zcash’s circulating supply and coincided with a slowdown in shielded pool growth, which slipped back to around 4.86 million ZEC after peaking above 5 million late last year. While not definitive proof of selling, the timing suggests a shift away from long-term privacy holding toward increased market availability.

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ppl say unshielding ≠ selling but sending 74k straight to binance isnt subtle