On-chain statistics indicate a pickup in non-shielded active addresses over the past few weeks but a decline in shielded active address activity. Technicals for both ZEC/USD and ZEC/BTC show a bearish trend emerging for the pairs.

On-chain statistics show a rise in transactions per day and active addresses over the past few weeks, while key technical indicators for on-chain economic activity now sit in overbought territory.

The total number of transactions per day on the network has continued to rise since January, and recently breached the 10-month high. Transactions per day are, on average, down from levels seen in mid-2019 but above levels seen in late 2018.

On-chain statistics show a slight rise in transactions per day over the past few weeks, with an all-time low in active addresses.

Even with the integration of Sapling, shielded addresses are not being utilized by a majority of transactions.

Fundamentals show continuing progression and improvements of the ZEC privacy technology, with declining transactional usage and active addresses.

The privacy technology of ZEC continues to progress and improve, despite the chain seeing very little daily transactional usage.

ZEC has taken a somewhat controversial and unique approach of heavily incentivizing founders and the existing ZEC team to promote ongoing protocol improvements. As opposed to default privacy on the protocol layer, optional privacy has been shown to reveal users transactions through linking if transacted between non-shielded addresses. As zk-SNARK technology becomes available in other protocols like BTC and ETH, ZEC will need to set itself apart through scalability and low transaction fees.