According to Blockworks data, Zcash (ZEC)'s shielded transactions last week recorded 62,375 cases, marking the highest level in approximately four years since 2022. During the same period, the network transfer volume was $23.88 billion, which is the largest ever, with the exception of one week during the 2021 bull market. Shielded transactions use zero-knowledge proofs to keep the sender, recipient, and transaction amount private. The number of transactions, which was at a level of 8,000 to 12,000 per week from January to July this year, surged starting in August, increasing to approximately 48,000 cases by early September.
