$80M in ZEC Flows Into Zcash’s New Ironwood Pool on Day One

TL;DR

• About 176,000 ZEC worth roughly $81 million entered Ironwood during its first day alone, representing approximately 5% of Orchard’s activation balance.
• Orchard can no longer receive deposits at all, while its turnstile limits total withdrawals to the amount of ZEC that was verifiably deposited.
• Migration remains voluntary, leaving most private ZEC in the retired pool as holders, wallets, and exchanges move funds according to their own schedules over time.

Zcash’s Ironwood migration moved about 176,000 ZEC, worth roughly $81 million, into the network’s new shielded pool during its first day. The transfer represents approximately 5% of the 3.66 million ZEC held in Orchard when the upgrade activated and sealed that older pool after a counterfeiting flaw had remained undetected for four years. The opening surge shows meaningful movement, but most private ZEC has not crossed yet. Orchard’s balance has fallen to around 3.51 million ZEC, leaving the migration’s pace dependent on wallets, exchanges, and individual holders across the ecosystem’s still-evolving privacy infrastructure worldwide.

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