Solana Zcash Supply Surpasses 103,000 ZEC

Zcash Finds New Home on Solana, But Privacy Features Stay Behind

Zcash (ZEC) has found a new popular destination, and it’s not its native blockchain. The amount of ZEC bridged to the Solana network has reached a record 103,000 tokens, valued at $124 million, marking the largest pool of Zcash ever deployed on Solana.

Ironically, the version of ZEC available on Solana lacks the privacy-enhancing features that originally defined Zcash.

Bridging the Gap

Most of the ZEC on Solana arrives via NEAR’s OmniBridge. This process can be likened to an airport currency exchange: users deposit one form of an asset and receive a usable equivalent on another network.

As of late October 2026, this bridged supply stood at approximately 103,000 tokens. The market price for ZEC during this period ranged between $1,200 and $1,250 per token.

This is not the first time bridged supply has reached significant levels. It previously hit around 86,643 ZEC in May 2026 and climbed to approximately 97,942 ZEC by mid-September 2026. The September peak represented a higher dollar value, roughly $132 million, despite involving fewer tokens. This indicates that while more ZEC is moving to Solana, each token was worth more approximately six weeks prior. The current record is measured by token count, not total dollar value.

A Surge in Holders

Perhaps a more significant development is the increase in the number of ZEC holders on Solana. The OmniBridge version of ZEC saw its holder base expand from roughly 17,000 in late June 2026 to over 152,000 by late October 2026. This represents a nearly ninefold increase in about four months, suggesting widespread retail interest rather than activity from a small number of large holders.

Trading Dominance on Solana

Supply figures only tell part of the story; trading activity provides further insight. By mid-September 2026, Solana accounted for approximately 79% of ZEC spot trading volume across decentralized exchanges (DEXs) on all chains. This suggests that Solana has become the primary venue for ZEC swaps on DEXs.

Alternative Bridging Solution

A secondary method for bringing Zcash to Solana exists in the form of zenZEC. This variant, built on Zenrock’s multi-party computation (MPC) system, launched on October 31, 2025, and has since surpassed $15 million in cumulative trading volume. MPC involves distributing asset control among multiple parties, preventing any single entity from holding complete control, offering a different security model to OmniBridge while aiming for the same goal of ZEC integration on Solana.

Zcash’s Privacy Core

Zcash was fundamentally designed around shielded transactions, which obscure sender, receiver, and transaction amounts through cryptography, proving transaction validity without revealing sensitive details. On its native chain, approximately 17.01 million ZEC are in circulation out of a total cap of 21 million. As of late October 2026, about 29% of this supply was held in shielded pools.

However, the bridged tokens on Solana do not offer this privacy layer. Once ZEC crosses over, it operates like most other tokens on a public ledger, with balances and transfers visible to all.

Concentration of Liquidity

The data suggests that Solana has emerged as the primary trading hub for ZEC outside of centralized exchanges. With a dominant share of DEX spot volume and a record bridged supply, liquidity for ZEC is increasingly concentrating on the Solana network.

While the 103,000 ZEC on Solana represents a small fraction of the total 17.01 million ZEC in existence, its concentration on Solana is noteworthy. The divergence between token count and dollar value is also a key observation. The increase in bridged supply between September and October, coupled with a decrease in its total dollar value from $132 million to $124 million, indicates that users continued to bridge ZEC even as its dollar value declined.

The substantial growth in the holder count, from approximately 17,000 to over 152,000 in four months, is arguably the most significant metric, pointing towards broad retail participation rather than large-scale movements by a few entities.