The post ZCash chain posts peak mining, transaction activity in November, beats Ethereum and Solana appeared on BitcoinEthereumNews.com.
ZCash (ZEC) was one of the most active assets in the past month, both on exchanges and on-chain. The ZCash network passed Ethereum and Solana in fee production, even without apps. The recent ZEC rally coincided with the highest level of on-chain activity for the ZCash network to date. The ZEC usage surge was happening on its Solana version as well as the mainnet ZCash chain. ZEC transactions peaked in November, as the coin spiked above $700. | Source: Bitinfocharts ZCash moved ahead of Solana and Ethereum, lining up behind TRON as the second-biggest network in terms of fees produced for the past 30 days. The record arrived even after ZEC supplied additional volume through its Solana DeFi version, traded on decentralized exchanges. Some of the coin movements were linked to the activity of the Orchard privacy pool, with near-record transfers for bridging and moving ZEC to its protected version. ZCash turned into the second-biggest fee producer, after an all-time spike for on-chain activity in November. | Source: Token Terminal The increased activity allowed ZCash to produce $47.5M in fees, a total of 2.6% of all fees produced by major blockchains. ZCash transactions peaked in November ZCash transactions peaked on November 13, at over 73K daily. Later, the transaction pace shifted to a higher baseline. The ZCash network saw almost negligible transactions in the past years, despite claims to potentially displace BTC. The recent on-chain activity showed that a relatively small number of wallets boosted the activity. ZCash is also ranked 13th based on the largest number of daily active wallets. A total of 11.59K wallets are moving coins on the main network of ZCash. The recent rally sparked suspicions that ZEC was a potential exit for early buyers, miners, or actively trading whales. ZEC broke out and reached a…