Zcash Q3 Report Highlights Ironwood Activation and Increased Shielded Supply

The Zcash Q3 2026 report by Pine Analytics notes the Ironwood activation on July 28, with 87% of Orchard balances migrated within five weeks. As of August 31, the new pool held 3.84 million ZEC. Shielded supply rose 9.9% to 4.86 million ZEC, with the shielded ratio reaching 28.7%. ZEC price increased 106% to $836, and Grayscale ZCSH assets grew to $346 million following its conversion to a spot ETF. Mining difficulty hit a record high, and a governance vote on the NU7 upgrade is scheduled to conclude on September 14.