ZCash (ZEC) has always been an overlooked digital asset, as Monero (XMR) gained more prominence and publicity. Moreover, ZEC is one of the leading coins, and the addition to the Gemini exchange boosted its price. The growth of ZCash is tremendous for the past one month.
Also, ZEC added more than 10% overnight to $367.14, up to a net 32.56% in the past week. Volumes in the past days are near the all-time highs, finally taking ZEC out of the world of niche exchanges, and into active trading as a prominent asset.
Price chart and the growth of ZCash:
In the market for privacy coins, ZEC has received endorsements from several sides, including Vitalik Buterin, Saleem Rashid, and Monero’s Riccardo Spagni. Despite the barbs toward ZEC, the project has survived more extended, and in a more organised fashion compared to other crypto coins.
However, the recent market downturn also shook some of the gains from ZEC, as the coin comes with a volatility warning. Using ZEC offers the choice to transact both anonymously with peers, and with derivative transactions where this would be more convenient, such as sending to exchanges.
ZEC has been considered a “boring asset” for a long time. The coin’s blockchain is relatively young, yet to go through a halving. After the launch last October, the currency has a still small supply of around 4 million coins mined.
Finally, we can predict that if the upward momentum continues then, it will be one of the most significant assets in the future. Followers, don’t lose hope and keep supporting until it becomes a big thing. Moreover, a hard fork may be a good thing for ZCash. What do you think? Share your thoughts in the comment section.