Zcash (ZEC) Price Analysis: Zcash on its Path to Displace Bitcoin?
Zcash (ZEC), launched in 2016 by Wilcox O’ Hearn is a decentralized leading cryptocurrency aimed at using cryptography to give enhanced privacy to its users. Zcash transactions can either be transparent or safeguarded through a zero-knowledge proof called ZK-SNARKS. This way the network maintains a secure ledger of balances without disclosing the parties of the transaction and the amount involved. With Zcash “Transactions are auditable but disclosure is under the participant’s control.”
Zcash is currently getting traded at $57.42 USD (UTC time 7:14). With is market cap worth $356,304’642 USD. The current BTC price of Zcash is 0.01365416. the 24h volume is 230,551,534 USD.
From the statistics shown above and as per the Zcash chart it is seen that Zcash has managed to secure the 22nd position in a short time of span. A month ago, Zcash had a trading value of 52.35 USD. So, approximately in one month, the value of Zcash has been on a bullish trend by 8% with 56.28 as the support resistance.
As per the trend, Zcash price might have an increase of around 129% as compared to the current price by the end of this year. If used in place of traditional offshore banking services, Zcash may reach $60,000 by 2025. Therefore, check on ZEC Price Prediction to keep an eye on each update that will happen in the future before it actually occurs.
The Zcash community is reportedly planning to push scalability improvements to allow practically unlimited number of transactions which might lead to positive effects on the valuation of Zcash and it may rise to reach $500 mark in 2019. Being a highly potential currency Zcash can benefit traders, organizations, and investors to a great extent for long-term investment.