Bitcoin is a public ledger: every coin's whole history is readable by anyone, forever. Zcash is not. So a BTC → ZEC swap is a coin leaving the transparent world for an encrypted one — and the interesting question is whose coins. This page takes every BTC → ZEC swap routed through NEAR Intents, follows the Bitcoin that paid for it back through the chain, and asks how long those coins had been sitting still before they moved.
The lower line is what was paid, adding up as each swap happens — a dollar swapped is a dollar on this line. The upper line is what that ZEC is worth at each day's price. They are the same number on the day of a swap, because you got exactly what you paid for, and separate only as the price moves afterwards. Both are dollars, so both are on one axis: on two, they would cross wherever the scales were set to make them cross.
One bubble per swap. Across: when the swap happened. Up: how long that Bitcoin had sat untouched before it, on a log scale because the range runs from minutes to more than a decade. Size: how much Bitcoin moved. A bubble high up and large is somebody who has held since the early years selling a real position. Hover any bubble for the swap.
| Sender | Swaps | BTC in | USD in | ZEC out | Paid $/ZEC | Worth now | Gain $ | Return % | vs holding BTC | Oldest coins |
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An address is an address. Several may belong to one person and this page has no way to know, so it does not guess. Each sender links to every swap it made on the NEAR Intents explorer, and ₿ to the address on a Bitcoin explorer. In the table below, the date opens that one swap and the BTC amount opens the Bitcoin transaction that funded it.
| Swapped | BTC in | USD | ZEC out | Paid $/ZEC | Worth now | Gain $ | Return % | BTC last moved | Trace | Sender |
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The swap half is reported, not inferred. NEAR Intents publishes each swap: the Bitcoin sent, the ZEC returned, the sending Bitcoin address, and the Bitcoin transaction that funded it. This page stores those fields as given. No address clustering happens anywhere here, and no attempt is made to decide that two addresses are one person — the same discipline the rest of the site applies to Zcash.
The age half is a walk, and the naive version of it is wrong. Asking "how old was the coin the swap spent" gives an answer measured in minutes, because somebody selling a long-held pile consolidates it and then swaps it a slice at a time, each slice spending the previous slice's change. The first address this was built from chained eleven such hops in six hours. So the trace follows the largest input backwards while each hop is recent shuffling — at most two outputs, and dated within 30 days of the swap — and stops at the first transaction that is neither. That transaction is where the coins came to rest, and the table links to it so you can check the claim on any explorer.
"Last moved" is not "acquired", and this page does not say it is. A transaction that fans out to many outputs is where coins arrived from somewhere else — an exchange withdrawal, a payout batch. The trace stops there because that is the last point the chain can speak to. What happened before it (who held it, whether it was bought, sold, lent or moved between an owner's own wallets) is not on the chain, and the column is named BTC last moved for exactly that reason.
A consolidation is a shape, not an intention. When the trace passes a transaction with many inputs and one or two outputs, the row says so: the pile was assembled out of pieces rather than held as a single coin. That is a fact about the transaction. It is consistent with somebody gathering up years of accumulation to sell, and equally consistent with a service tidying its own wallet.
Only what has been traced is aged. Each trace costs a chain of Bitcoin API calls, so swaps are resolved in the background, newest first. An untraced swap appears in the table with its age blank and is counted in the "awaiting trace" figure — never given an age of zero, which would drag every average toward "these coins are brand new" and quietly reverse the page's finding.
Swaps under 0.1 BTC are hidden by default. Below a tenth of a coin the feed is bots, tests and dust — swaps worth a few dollars, which say nothing about somebody moving a position and, at a few hundred rows, are all a bubble chart can draw. They are still collected and still traced: All sizes shows them, and the CSV always contains whatever the current filter does.
This is one venue, not the market. NEAR Intents is a large BTC → ZEC route but it is not the only one, and a swap that never touched it is not here. Read the page as a window onto the flow, not a census of it.
Related: Shield-Bound Hop Sizes asks the same question on the Zcash side — how much moves at a time when a transparent coin goes private.