Is the ‘Zcrash’ Over? Zcash’s Price is Finding a Floor at $50


The price of the blockchain-backed asset zcash (ZEC) has shown signs of settling down over the last several trading sessions, experiencing only modest changes in its long volatile value.

Since the start of trading on 7th January, the value of the tokens that power the zcash blockchain have mostly fluctuated between $44 and $48 on CoinMarketCap, a range that tightened further today when ZEC moved between $45 and $46.50.

At the time of report, 1 ZEC was trading at $45.43.

This relative calm offers a sharp contrast to the wild volatility that ZEC experienced in the months since the cryptocurrency went live. (As previously reported, Zcash has managed to generate significant visibility through its use of zero-knowledge proofs called zk-SNARKs, a technology that lets users conceal the amount of transactions).

Excitement about the innovation fueled fervent speculation (ZEC reached roughly 3,300 BTC, more than $2m in October), before falling to $500 by the end of the month. By mid-November, 1 ZEC was trading for less than $100.

Yet that instability appears to be fading.

Over the last 30 days, the price of zcash has declined just 8%, hitting a high of $56 and a low of $34, according to Read more ... source: CoinDesk

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