Price Analysis

Zcash (ZEC) Price Analysis: Zcash on the Bitcoin’s Way to Reach 100 USD Soon

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Zcash (ZEC) is an open source and decentralized cryptocurrency created by Zooko Wilcox-O’Hearn in 2016. It is based on the Zerocoin protocol. Its privacy features allow utmost transparency of selective transactions. The transactions made on the Zerocoin protocol have both the options of being fully transparent or anonymous through a zero-knowledge proof called zk-SNARKs. The Zcash network also maintains a secure ledger of balances, and it does not disclose anything to the stakeholders. Every transaction is encrypted on the Metadata level, and zk-SNARKs are credited with the responsibility to check authenticity.

ZcashWith a negative return on Investment (ROI) of 98 %, the crypto is ranked 22nd in the market due to its circulation. The maximum capacity of circulation is not revealed officially but the total supply, as well as the current supply, remains the same at 6,234,006 ZEC. This year has been more or less stable for Zcash. However, the past week has seen enormous growth. The current market cap of Zcash (ZEC) is 441,950,249 USD, and the price of each coin in terms of USD and BTC stands at 70.89 USD and 0.01437841 BTC on 3rd April 2019 at 05:34 UTC. The 24 h volume stands at 551,876,259 USD.

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The past month has seen both increase and decrease in the value of each coin. The market cap of March 03 was 311,638,271 USD, and the value of each coin was 51.84 USD, and in terms of BTC, it was 0.01340687. The current market has reached the highest point of Zcash’s growth story of 2019, and it 41.81 % more than that of March 03’s figure. The value of each coin in terms of USD has increased by 36.74 % than the value of one month back.

Just 45 days back the value of each coin was hovering at 50 USD to 55 USD, and no one might have thought it would touch as high as 70 USD in this short span. The past month’s growth has been inconsistent; it’s surely a worth coin to take a risk as experts have claimed that it is likely to touch 100 USD mark this quarter itself. That would be a 50 % growth over the current price. For the people who have been willing to purchase the coin, no time can be better than this while the price is still hovering around 69-70 USD. Long term holders are going to reap a huge dividend as this coin is following the way of Bitcoin. Like Bitcoin, Zcash also is moving upwards abruptly. With some variant choppy price movements, Zcash (ZEC) will be deal of much profit.

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.

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