# Zcash (ZEC): fees, revenue multiple and fair price

Source: Chainfees, https://chainfees.fyi/chain/zcash/ · data through 2026-11-09 · rebuilt hourly.

Zcash ranks #48 of 59: at $19.3B FDV and $1.08M of yearly network fees, its revenue multiple of 17,855× sits above the median. The market is paying up for more than its fees: at the median multiple ZEC would be $165.79 (−85.4%).

For comparison, Zcash is 14× pricier than Ethereum (1,268×) and 1.0× cheaper than Bitcoin (18,076×).

| Metric | Value |
|---|---|
| Undervalued rank | #48 of 59 |
| Type | L1 |
| Token | ZEC |
| Price | $1,134 |
| FDV | $19.3B |
| Market cap | $19.3B |
| Yearly fees (90d, annualized) | $1.08M |
| Revenue multiple (FDV/Fees) | 17,855× |
| Fair price (median revenue multiple) | $165.79 (−85.4%) |
| Transfer fee | — |
| Average transaction fee | — |

## FAQ

### Is Zcash undervalued?

Not by its fees. Zcash's revenue multiple of 17,855× is above the median chain's, so it ranks #48 of 59.

### How much does Zcash earn in fees?

$1.08M a year, annualized from the last 90 days of network fees (DefiLlama).

### What would ZEC be worth at a fair revenue multiple?

$165.79, −85.4% from $1,134 today. That's the price at the median revenue multiple of all ranked chains.

Definitions: https://chainfees.fyi/learn/ · Methodology: https://chainfees.fyi/methodology/ · Full ranking: https://chainfees.fyi/llms-full.txt