ETH vs ZEC
Ethereum and Zcash scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
ETH scores 187 of 250 and ranks 2nd of 251. ZEC scores 101 and ranks 135th. ETH leads by 86 points, which is a wide enough margin that the framework is not ambivalent. ETH takes 24 of the 25 variables, ZEC takes 1, and none are level.
The framework rates ETH HOLD CORE and ZEC WATCH. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. ETH is clear on Regulatory Safety (10 against 3), Protocol Revenue (9 against 3) and Institutional Adoption (10 against 4).
ZEC still has 19.2% of its eventual supply to enter circulation against 0% for ETH. On the same market capitalisation, a buyer of ZEC is taking the 1.24x dilution path and a buyer of ETH the 1x one.
ETH is valued at $313.17B against $22.59B for ZEC, a 13.9x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 9 | 3 | ETH +6 | |
| Revenue Trend | 5 | 3 | ETH +2 | |
| P/S Multiple | 5 | 4 | ETH +1 | |
| Real Staking Yield | 7 | 2 | ETH +5 |
Supply
| Supply Inflation | 7 | 5 | ETH +2 | |
| Vesting Schedule | 10 | 6 | ETH +4 | |
| Circulating / FDV Ratio | 10 | 7 | ETH +3 | |
| Buyback and Burn | 6 | 2 | ETH +4 |
Ownership
| Smart Money Flows | 9 | 4 | ETH +5 | |
| Insider Selling | 7 | 4 | ETH +3 | |
| Holder Concentration | 6 | 4 | ETH +2 |
Traction
| TVL Trend | 6 | 2 | ETH +4 | |
| Active Users | 8 | 3 | ETH +5 | |
| Developer Activity | 7 | 5 | ETH +2 | |
| Network Growth | 8 | 3 | ETH +5 |
Position
| Market Share | 7 | 4 | ETH +3 | |
| Competitive Moat | 8 | 5 | ETH +3 | |
| Institutional Adoption | 10 | 4 | ETH +6 | |
| Exchange Depth | 10 | 6 | ETH +4 | |
| Social Mindshare | 6 | 4 | ETH +2 |
Risk
| Regulatory Safety | 10 | 3 | ETH +7 | |
| Catalyst Calendar | 8 | 4 | ETH +4 | |
| BTC Alpha Potential | 4 | 5 | ZEC +1 | |
| Team Execution | 6 | 4 | ETH +2 | |
| Treasury Runway | 8 | 5 | ETH +3 |
Bars read outward from the centre: ETH to the left, ZEC to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| ETH | ZEC | |
|---|---|---|
| Price | $2,564 | $1,331 |
| Market cap | $313.17B | $22.59B |
| Circulating | 100% | 80.8% |
| Dilution to full supply | 1x | 1.24x |
| Off all-time high | -48.2% | -58.3% |
| To recover the high | 1.9x | 2.4x |
| Total value locked | $46.17B | not published |
| Network | Ethereum | Zcash |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
ETH · HOLD CORE
Glamsterdam ePBS (Q3 2026), CLARITY Act (the 4 July 2026 signing target was missed, the bill stalled in the Senate), staking ETF expansion
Burn collapsed (-71% post-Pectra), ETH/BTC 10mo low, 9 EF departures, identity crisis
ZEC · WATCH
ZEC halving reduced miner emissions; Shielding growth and the Crosslink hybrid finality work led by Shielded Labs, not the Electric Coin Company and shielded transaction growth
Regulatory delistings accelerating; most ZEC transactions are transparent not shielded; Monero preferred by privacy community; ECC funding concerns
Common questions
- Is ETH or ZEC the better investment?
- On this framework ETH scores higher: 187 against 101 of 250, and it is rated HOLD CORE against WATCH. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and ETH still wins 24 of the 25 individual variables against ZEC.
- What is the biggest difference between ETH and ZEC?
- Regulatory Safety. ETH scores 10 of 10 there and ZEC scores 3, a gap of 7 points on a single variable.
- Which is bigger, ETH or ZEC?
- ETH is valued at $313.17B and ZEC at $22.59B on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.