Zcash experienced a notable surge during the recent market rally, reaching a high of $35.69 on April 8th. This increase was driven by traders transferring a record-breaking amount of tokens into ZCash’s shielded pool. This rise coincides with broader market recovery, leading to Zcash emerging as a top performer amongst altcoins. On Tuesday, April 8th, the token rallied 15% before stabilizing at $34.49. This rally paralleled Bitcoin’s brief movement above $80,000 before it retraced back to $77,422. Data indicates growing trader confidence in the privacy-focused token. Just a day earlier on April 7th, the Zcash shielded pool supply saw an all-time high, approaching 2.9 million ZEC. As of April 8th, the figure stands at 2.54 million, representing 15.9% of the total circulating supply. Shielded addresses are often viewed as a sign of long-term confidence in the network. Notably, most centralized exchanges do not support trading with shielded addresses due to anti-money laundering and Know Your Customer compliance regulations. This effectively removes tokens from circulating supply, contributing to higher prices within the open market. The record shielded supply also suggests an increase in Zcash’s adoption of privacy features. Similar to Monero, Zcash markets itself as a privacy token enabling fully anonymous transactions on-chain. However, this feature has attracted attention from regulators who are scrutinizing these tokens due to AML and KYC concerns. In 2022, the U.S. Department of Homeland Security announced efforts to track transfers on such blockchains.