Key Takeaways
- ZEC maintains trading levels around $619, registering a 6.29% increase over 24 hours despite experiencing a 3–4 hour network halt on June 3, 2026.
- The critical $600 threshold remained intact as psychological support, with daily trading volumes surpassing $1.34 billion throughout the incident.
- More than 5.1 million ZEC tokens — representing over 30% of the shielded-enabled supply — are now stored in private addresses, marking an unprecedented milestone.
- The Orchard privacy pool accounts for the majority of this expansion, suggesting genuine privacy adoption rather than mere speculative behavior.
- The token has climbed 45.4% over the last month, with analysts watching the $700 zone as the next significant resistance barrier.
Zcash (ZEC) maintained its position above the $600 mark on June 3, 2026, throughout a network disruption that suspended block production for approximately three to four hours.
The interruption temporarily stopped transaction confirmations on the proof-of-work blockchain. Typically, such disruptions would prompt immediate sell-offs.
That scenario failed to materialize.
Current data shows ZEC changing hands at $619.05, marking a 6.29% climb in the past day. The token fluctuated between $560.69 and $637.95 during this period.
Trading activity remained robust during the outage, with 24-hour volume exceeding $1.34 billion. Market makers maintained their positions rather than withdrawing liquidity in response to the disruption.
Private Address Holdings Reach New Peak
A significant development gaining attention this week involves the expansion of shielded ZEC holdings.
Blockchain analytics reveal that roughly 5.1 million ZEC tokens now reside in shielded addresses. This amount exceeds 30% of the total privacy-enabled supply and establishes a new all-time high.
Most of this expansion originates from the Orchard shielded pool — Zcash’s cutting-edge privacy infrastructure.
This trend carries price implications because tokens in shielded addresses effectively exit transparent circulation. This dynamic contracts the observable supply available for exchange trading.
The increase in private holdings has gained momentum since 2024. This pattern represents an enduring shift rather than a temporary reaction to price fluctuations.
It further indicates that network participants are selecting privacy features for intrinsic reasons, not purely for trading speculation.
Technical Outlook and Critical Price Zones
ZEC has advanced 7.8% over the previous week and 45.4% across the last 30 days.
Market observers have designated $600 as a crucial pivot point. Near-term resistance appears between $633 and $650, while a more substantial barrier exists around $700.
Downside support has formed near $550 during recent retracements.
Current price behavior suggests consolidation within these boundaries.
The $600 threshold has emerged as a zone where accumulation occurs during declines, preserving bullish structure even amid network challenges.
ZEC continues trading at $619.05 as the consolidation pattern persists beneath the $633–$650 resistance cluster.
The post Zcash (ZEC) Surges 6% Despite 3-Hour Network Halt — What’s Behind the Rally? appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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