Zcash cryptocurrency is known for its notable improvisation in privacy features compared to its counter cryptocurrencies. It was developed based on the Zerocoin protocol and used a technology called Zero-Knowledge cryptography. However, Zcash developed and improved the protocol and reference implementation and the technology used to protect the privacy of the transactions on the Zcash platform. It offers its users an optional privacy feature that allows them to conceal the important data and details of the transaction. It primarily focuses on protecting the details about the sender, recipient and the transaction amount using shielding. ZCash is denoted by ZEC and has a total fixed supply that is equivalent to 21 million bitcoins.
Current Statistics
According to evaluation from Coinmarketcap, ZCASH is currently being traded at 72.85 USD for the market cap value of USD 457,830,216. Based on this report, ZCash is ranked the 22nd largest cryptocurrency in the crypto market. This is also dependent on the circulating supply of 6,284,494 ZEC coins and the 24h volume of $264,130,084. Coin market cap has estimated the approximate return on investment for this cryptocurrency to be -98.31%. The negative percentile indicates the deterioration in values from the time of investment.
Market Analysis
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Zcash has been a volatile cryptocurrency with frequent variation in values. A note-worthy rise in values occurred between March 18 and 20, with the MCAP value and the trading price rising from USD 331,439,911, 54.15 USD to USD 373,722,907 and 60.92 USD. A growth of 12.76% and 12.50% respectively was observed within a span of 02 days. However, a dramatic surge in values occurred at the beginning of April. The Mcap value rose from USD 365,240,603 on April 01 at 02:34 UTC to USD 476,877,460 on April 04 at 02:34 UTC. The market rose by 30.57%. The current value continues to remain on the uptrend.
ZEC’s Future Predictions
Zcash’s price predictions can be made based on interesting partnerships in the past years. The most notable one is with the financial giant JPMorgan Chase. Apart from this, to know more about the Zcash predictions for Next 5 years visit our forecast section. They estimate the price to increase by 319.527 USD by 2020, followed by an increase to 867.613 USD in 2022 and furthermore to 1242.69 by 2024. Analysis by other crypto forecaster expects the coins will be purchased at 380 USD per coin at the end of 2019 and 760 USD by 2020.
Conclusion
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Zcash is volatile which is exhibited with the difference in price values. However, the current market can be used to advantage by the traders. Once their short-term contributions turn out beneficial, the value of the cryptocurrency would increase proportionally.
