The current price of Zcash fluctuates around $29.12; the total market capitalization is $241,529,822, which makes ZEC one of the 35 most popular digital currencies as of December 2019. The circulating supply is 8,294,906 ZEC. The daily trading volume is around $102,480,027.
The all-time high of Zcash, $5,941.80, was reached on October 29, 2016 – outside the most famous bull-run of winter 2017. On the other hand, the all-time low of Zcash, $25.45, occurred not long ago on November 25, 2019. Currently, the estimated ROI (return on investment) of ZEC is -99.32%, which means that $100 worth of ZEC bought at the time of the Tether launch would not yield any profit today.
Hype surrounded Zcash long before it was released. ZEC entered the market at an astonishing price of several hundred dollars, which was primarily caused by an extensive advertising campaign and media. Just for a comparison, the starting price of some of the most popular coins, such as Bitcoin, was less than $1. Even more so, Zcash remains the only coin whose mining launch was broadcast online via Youtube.
Analysts speculate that the high starting price of ZEC came from media hype and a powerful advertising campaign, which was driven both by the developers and investors. For instance, one of the first companies to invest in Zcash was the Digital Currency Group, which is known for its high prestige on the market of digital currencies and electronic payments.
Nevertheless, it did not take long for the hype to settle down, which caused the price to go down to $20. Six months later, another spike occurred, and the value to ZEC increased up to $80. By summer 2017, the price of the coin went all the way up to $400. According to analysts, such a spike was caused by the news of the upcoming listing on Bithumb, one of the biggest and most popular cryptocurrency exchanges. However, that did not happen during the summer, and disappointed investors started draining their ZEC, lowering its price down to $190.
In general, the ZEC price chart for 2017 is full of sharp peaks and troughs; some even accused Zcash of performing price manipulations. In reality, the cause of this probably was the chosen promotion strategy. Besides, the coin was indeed listed on Bithumb a little later, so the accusations were, in principle, groundless. In December and subsequently January, ZEC reached several serious price peaks, but they did not manage to replicate the success Zcash, which came soon after launch.
Since then, the price has dropped significantly and has not quite been able to recover. It is also one of the coins that were the most vulnerable to negative trends in the market.
Those are the reasons why ZEC is currently not considered a good long-term investment by many experts. For instance, WalletInvestor predicts a decrease in ZEC price down to $10.309 in 2020. In the next few years, however, it is possible that the situation improves and Zcash reaches a level of $50 by 2025. Read more
What is Zcash (ZEC)
Zcash (ZEC) is an open-source blockchain-based cryptocurrency with a strong focus on privacy enhancement. Launched in 2016 by Zooko Wilcox, Zcash aims to improve on the shortcomings of Bitcoin in terms of anonymity and fungibility. The total supply of Zcash coins in limited to 21 million, just like Bitcoin.
While Bitcoin operates as an open-ledger system, Zcash is an encrypted open ledger. A unique feature of Zcash is the Zero-Knowledge proof cryptographic tool, which obfuscates addresses and amounts involved in each transaction. The addresses recorded in the blockchain can be shielded, making it almost impossible to trace a transaction path between users. However, “selective disclosure” is possible for users, for example, in case they wish to prove payment for auditing purposes.
The foundation of Zcash lies in Zerocoin – a concept developed back in the 1980s. The mathematical technique called zero-knowledge proof ensured the anonymity of the transaction contents even when it was visible on a decentralized ledger.
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