Price Analysis

Zcash Price Analysis: ZEC Released Sprout-to-Sapling Migration Tool to Sustain Legacy Address

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Zcash (ZEC) deployed a new tool to help Zcash owners upgrade their coins before legacy addresses are no longer supported. Zcash developers are working round the clock to set a roadmap of development and taking the coin forward.

ZEC/USD 3 Month Price Chart – TradingView

ZEC/USD 3 Month Price Chart - 6 June

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Zcash Current Statistics (On June 06, at UTC 10:33):

  • Zcash was trading around 80.19 USD.
  • Having a Return on Investment of -98.12%, the current market capitalization of the ZEC, at the same time, was 540,427,051 USD.
  • Besides, a total of 6,694,181 ZEC chips were in circulation.
  • Zcash against Bitcoin was trading around 0.01028408 BTC per chip.
  • Additionally, the 24-hrs trading volume in the crypto was $300,661,768.

Zcash Price Comparison:

On May 11, Zcash (ZEC) was trading at 63.26 USD. However, today, after 25-days, the ZEC is trading with a remarkable hike of 26.76%. Nevertheless, in a week trading, the coin has declined almost by 7.80 USD, from $87.11 on May 30.

Zcash Price Prediction:

Although the coin has seen some substantial action since yesterday, it still seems to have to face some bumps before another bull run. As per our analysis, sticking to the previous speculation, in the long run, is a better choice, which was that Zcash is expected to touch $100 mark by the EOY. Although the support levels have come down from $80 to $77.

Conclusion:

Zcash foundation is focused more on long term goals and is worried about the future roadmaps. This worry of the developers is a kind of good news for investors. At present, there is relative stability in the market when compared to the last week, but still, hold your horses and trade only for the long or medium term.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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