ZEC's March Madness: Hashrate Hits the Gym, Shielded Supply Goes Ghost Mode, and Price Pokes the Bear

March saw Zcash pumping iron like a degen on a pre-bull run fitness kick. The network's hashrate flexed to an all-time high of 16.54 GS/s, a clear signal miners are betting the farm. Meanwhile, the shielded pool went full ghost protocol, ballooning to 5.15 million ZEC—about 31 % of the supply—marking the largest-ever stash of privacy-locked coin.

The community vibes were accordingly moonish. LunarCrush reported sentiment was 88 % positive, and Zcash’s AltRank rocketed to #10 from its usual spot in the 500s, like a shitcoin suddenly remembering it has a whitepaper. Weekly trading volume surged 34 % to $486 million, and the price crept up 13.7 % to $258.91. This wasn't just hopium; it was fueled by two institutional-sized espresso shots: the Zcash Open Development Lab (ZODL) bagged a $25 million seed round from a16z, Paradigm and Winklevoss Capital, and Foundry Digital announced plans for a serious, suit-and-tie Zcash mining pool.

Analysts, now high on the momentum, are quietly muttering about a $400 target. Of course, ZEC is still trading roughly 60 % below its November 2025 peak of $750, a painful reminder for any bagholders who bought the top. Still, the token managed to claw back about 40 % in March, which is more than most of our forgotten altcoin portfolios can say.

The party didn't stop at a gentle climb. In one particularly degen-fueled session, ZEC ripped 20 % higher, with volume exploding 76 % as buyers finally broke out of a descending wedge pattern that had been more frustrating than a congested mempool. The price cleared the $194.90 support zone and is now eyeing the $300 resistance ceiling like a cat watching a laser pointer. The RSI climbed to 58, showing steady buying pressure without yet flashing an overbought warning.

Beneath the surface, however, the order book tells a more conflicted tale. Spot-taker CVD has been sell-dominant for the past 90 days, and the OI-weighted funding rate sits at a negative –0.032 %, meaning the derivatives crowd is still leaning short. This sets up a classic crypto drama: a potential short-squeeze-driven pop if prices rally hard enough to start liquidating the bears.

In summary, Zcash is showing off its computational muscles, sending more coins into stealth mode, and poking at a major resistance level. Whether the next chart move is a graceful ascent or a violent squeeze that liquidates a few over-leveraged degens is the question on everyone's mind.