Zcash's New Ironwood Pool Sees $81 Million in First Day

On July 29th, Zcash's new Ironwood shielded pool saw an influx of around $81 million worth of ZEC in its first day after activation. This amount represents about 5% of the Orchard pool's balance at the time of activation.

The Orchard pool, which has been closed to new deposits, is steadily shrinking as coins exit through a turnstile mechanism that limits total withdrawals to the amount verifiably deposited. The migration to Ironwood is voluntary and will likely take place over an undetermined timeframe, leaving some Zcash's shielded supply temporarily stranded in the now-closed Orchard pool.

About 176,000 ZEC had migrated into Ironwood by Wednesday, a day after the upgrade activated and sealed the Orchard pool where a counterfeiting flaw had gone undetected for four years.