Price Analysis

Will Zcash (ZEC) Gets Its Due In 2019 And Overcome From The Prolonged Sliding Trend?

Finmax

Zcash (ZEC) is a digital currency introduced in 2016 by Zooko Wilcox-O’Hearn. The science-based decentralized platform is built to make every transaction private, secure and feeless. It uses a zero-knowledge proof called zk-snarks to shield every transfer. Zcash can also be utilized for open transactions by exchanges. The currency aims to redefine the entire money transfer process by introducing private and fully secured modes enabling users to hide their identity and information while making any transaction on the platform. The company is now getting rebranded to be called as the Electric Coin Company to emphasize on its vision of changing the global financial landscape.

Current Statistics:

Zcash Price Chart (05.04.2019 - 03.05.2019)

Finmax BTC

The Zcash ROI is now -98.60%. The circulating supply of the coin is 6,448,819 ZEC which is equivalent to the total supply. As on May 03, 2019 at 08:04:01 UTC, the market cap is 389,185,866 USD, the price is trading at 60.36 USD & 0.01085228 BTC and 24h volume is 231,027,151 USD. According to the CoinMarketCap, Zcash is ranked 25th in the top 100 cryptocurrencies list.

Comparison:                

In the past 30 days, the highest price was reported at 75.85 USD and the lowest was around 57.45 USD. The highest price was 62.30 USD in the last 7 days and the lowest was 57.45 USD. As on April 05, 2019 at 05:34:02 UTC, the market cap was recorded at 419,000,837 USD, the 24 h volume was 349,207,139 USD, the price was trading at 67.08 USD & 0.01362038 BTC. The downtrend of over 10% has been recorded in the past one month. The sliding trend is expected to change in the second half of 2019 as the firm goes above & beyond to secure better adoption in the mainstream market.

Prediction:

The blockchain based Zcash has been inking strategic partnerships & making important announcements since its inception. Recently, the team is seen promoting their participation in the Joint Conference Call with thought leaders and Global Coin Research to discuss the focus on Asia in 2019. The firm had partnered with JPMorgan to integrate ZSL (zero knowledge security layer) and make transactions fully anonymous. Last year, Zcash had collaborated with Starkware. It has also partnered with Trustwallet and gained good traction from the investors and supporters for this move. Hence, considering all these key aspects, the coin can be expected to grow between 100 USD – 200 USD by the end of 2019. From a 2-year perspective, the price can rise as high as 300 USD and in the next 5 years, it can reach over 700 USD. Although the currency has captured the spotlight in few instances through new partnerships but has kept a slow pace. 2019 may change this trend for Zcash bringing delight to the supporters and traders.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button