$ZEC Active Trading: What Does New Research on Bitcoin Privacy Bring?
As of around 11:17 a.m. Beijing time on September 27, Binance spot ZEC/USDT’s rolling 24-hour trading volume was about 266 million USDT, with a price change of approximately +7.27%. The trading volume increased compared with the 24-hour snapshot from the previous hour in this cycle (about 256 million USDT). However, the two time windows overlap heavily, so the difference cannot be taken as newly added funds within just this hour.
At the same time, CoinDesk recently reported on Shielded Bitcoin research. The study borrows from Zcash’s encrypted payment design to attempt to hide payment amounts, as well as the sender and recipient, without changing Bitcoin network rules. The research paper was published on September 24 and is still at an early stage.
【The most crucial difference】
Zcash verifies privacy proofs through its own blockchain. In the Shielded Bitcoin study, the data is written onto Bitcoin and whether a privacy payment is valid is determined by independent software. Therefore, Bitcoin transaction confirmation does not necessarily mean that the encrypted privacy payment it carries has also passed verification.
More importantly, the current paper has not yet provided a complete mechanism for how ordinary BTC enters and exits the system, nor does it specify a go-live timeline. So it cannot be presented as “Bitcoin privacy transfers” that are already usable.
【My analysis: Borrowing technology isn’t the same as buying tokens】
For ZEC, research like this shows that privacy payments still have real-world demand—companies paying payroll and making commercial payments may not want to permanently reveal all inflow and outflow relationships.
However, a Bitcoin proposal that borrows from Zcash does not mean it needs to buy ZEC, and there’s no evidence that today’s price surge is driven by this news. Over the long term, more privacy solutions may broaden market awareness, but they could also compete for users and liquidity.
So what I care more about is whether Zcash’s real usage can be sustained—not how many headlines mention it. You should look together at privacy pool balances, actual payment activity, and wallet experience. If you only look at the coin price or the USD valuation of assets in the pool, it’s easy to mistake a price rise for user growth.
【My approach】
At the transaction layer, verify separately the idea that “privacy demand is increasing” and the idea that “ZEC has already gained incremental demand.” Higher trading activity only indicates more transactions; it doesn’t necessarily mean all of them are net purchases. Don’t chase or use leverage based on a single research paper.
At the usage layer, for systems that are still in the research stage, first wait for deposit/withdrawal mechanisms, security reviews, and verifiable implementations before considering actual usage. Even if the payment content is hidden, other information—such as time, who pays the fees, and other factors—may still leak linkages. “Privacy” therefore shouldn’t be understood as making all information invisible.
Next, watch three key nodes: whether the Bitcoin proposal fills in deposit and withdrawal mechanisms, whether Zcash usage metrics can continue improving, and whether support from exchanges and wallets changes. If you only see price strength while real usage stalls, you should downgrade the view that the fundamentals are driving it. If the Bitcoin privacy solution matures, you should also reassess the competitive relationship.
Source: CoinDesk article “Bitcoin could soon get Zcash-style shielded privacy without changing its rules” and its coverage of the research limitations.
https://www.coindesk.com/tech/2026/09/25/bitcoin-could-soon-get-zcash-style-shielded-privacy-without-changing-its-rules
Market snapshot: Binance spot has a public interface; around 11:17 a.m. Beijing time on September 27, 2026. The above is my personal analysis and does not constitute investment advice.
#Zcash #比特币 #加密新闻
As of around 11:17 a.m. Beijing time on September 27, Binance spot ZEC/USDT’s rolling 24-hour trading volume was about 266 million USDT, with a price change of approximately +7.27%. The trading volume increased compared with the 24-hour snapshot from the previous hour in this cycle (about 256 million USDT). However, the two time windows overlap heavily, so the difference cannot be taken as newly added funds within just this hour.
At the same time, CoinDesk recently reported on Shielded Bitcoin research. The study borrows from Zcash’s encrypted payment design to attempt to hide payment amounts, as well as the sender and recipient, without changing Bitcoin network rules. The research paper was published on September 24 and is still at an early stage.
【The most crucial difference】
Zcash verifies privacy proofs through its own blockchain. In the Shielded Bitcoin study, the data is written onto Bitcoin and whether a privacy payment is valid is determined by independent software. Therefore, Bitcoin transaction confirmation does not necessarily mean that the encrypted privacy payment it carries has also passed verification.
More importantly, the current paper has not yet provided a complete mechanism for how ordinary BTC enters and exits the system, nor does it specify a go-live timeline. So it cannot be presented as “Bitcoin privacy transfers” that are already usable.
【My analysis: Borrowing technology isn’t the same as buying tokens】
For ZEC, research like this shows that privacy payments still have real-world demand—companies paying payroll and making commercial payments may not want to permanently reveal all inflow and outflow relationships.
However, a Bitcoin proposal that borrows from Zcash does not mean it needs to buy ZEC, and there’s no evidence that today’s price surge is driven by this news. Over the long term, more privacy solutions may broaden market awareness, but they could also compete for users and liquidity.
So what I care more about is whether Zcash’s real usage can be sustained—not how many headlines mention it. You should look together at privacy pool balances, actual payment activity, and wallet experience. If you only look at the coin price or the USD valuation of assets in the pool, it’s easy to mistake a price rise for user growth.
【My approach】
At the transaction layer, verify separately the idea that “privacy demand is increasing” and the idea that “ZEC has already gained incremental demand.” Higher trading activity only indicates more transactions; it doesn’t necessarily mean all of them are net purchases. Don’t chase or use leverage based on a single research paper.
At the usage layer, for systems that are still in the research stage, first wait for deposit/withdrawal mechanisms, security reviews, and verifiable implementations before considering actual usage. Even if the payment content is hidden, other information—such as time, who pays the fees, and other factors—may still leak linkages. “Privacy” therefore shouldn’t be understood as making all information invisible.
Next, watch three key nodes: whether the Bitcoin proposal fills in deposit and withdrawal mechanisms, whether Zcash usage metrics can continue improving, and whether support from exchanges and wallets changes. If you only see price strength while real usage stalls, you should downgrade the view that the fundamentals are driving it. If the Bitcoin privacy solution matures, you should also reassess the competitive relationship.
Source: CoinDesk article “Bitcoin could soon get Zcash-style shielded privacy without changing its rules” and its coverage of the research limitations.
https://www.coindesk.com/tech/2026/09/25/bitcoin-could-soon-get-zcash-style-shielded-privacy-without-changing-its-rules
Market snapshot: Binance spot has a public interface; around 11:17 a.m. Beijing time on September 27, 2026. The above is my personal analysis and does not constitute investment advice.
#Zcash #比特币 #加密新闻