Zcash rally draws criticism from F2Pool co-founder
Zcash (ZEC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reported that Zcash traded near $1,130 after a rally pushed the privacy coin into the top ten, prompting F2Pool co-founder Chun Wang to criticize the move as a narrative bid. Wang argued that Zcash’s valuation was unjustified due to its funding history, optional privacy model, governance disputes, and the recently disclosed Orchard vulnerability. The source notes that Wang’s comments are opinions, as his description of Zcash’s current funding structure omits recent changes.
Specifically, since November 2024, 20% of block rewards go to ecosystem funding, with 8% to Zcash Community Grants and 12% to a protocol-tracked lockbox, ending direct payments to Electric Coin Company. Wang also cited the January departure of the Electric Coin Company team following a dispute with Bootstrap, though the team continued development under a new entity. The Orchard vulnerability, discovered by Taylor Hornby in May, involved an under-constrained element in the cryptographic circuit, with an emergency fix deployed on June 1.
Although no exploitation was found, privacy properties prevent proving that no counterfeit ZEC was created. ZEC remained more than 2,300% higher than one year earlier, with its rally accelerating after Grayscale converted its Zcash Trust into a U.S.-listed spot ETF in August.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 8 September 2026. Not the outlet's figures.
Zcash is currently trading at $1,140.16, showing a buy ratio of 61.3% over the last hour and 56.7% over the last four hours. These short-term figures indicate strong immediate buying pressure, contrasting with the 24-hour buy ratio of 47.9%, which suggests that buying momentum has faded over the full day. The volume delta for the last hour is positive at $3,865,388, while the four-hour delta is $4,715,005, indicating net inflows in the short term. However, the 24-hour volume delta is negative at -$9,811,265, showing that sellers have dominated the broader daily session. Cumulative Volume Delta closed at +$10,566,113 for the 24-hour period, with spot volume reaching $230,937,234 across 625,550 trades.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.0%, making the latest day’s performance 2.1 percentage points lower than the weekly average. Volume over the last 24 hours was 1.04 times the weekly average, indicating slightly elevated activity compared to typical days. The coin experienced a 34.4% price increase over the eight-day period, with a total volume delta of +$4,446,240 recorded over that span. This recent week saw net buying on only three of the seven days, suggesting that the current price surge is part of a broader, albeit uneven, upward trend rather than a steady daily accumulation.