- Zcash price surges as other top cryptos plunge
- The massive surge in Zcash price is attributed to the charitable ventures of the Zcash Foundation
Zcash News Today – One of the top privacy-oriented digital currencies – Zcash (ZEC) – is in its own league today among digital currency traders. While most of the top coins among the top 100 were trading sideways, Zcash (ZEC) has been soaring higher. Zcash is currently the 32nd largest digital currency by market cap. Over the past day, Zcash has been amassing a considerable level of gains.
Zcash (ZEC) Surges by 15% While Other Coins Head South
Over the past twenty-four hours, the price of ZEC is up by 15 percent, according to CoinMarketCap. The digital currency is currently heading for the $31 mark. This marks a considerable change from the behavior of the digital currency just a month ago when the price of the digital currency was experiencing constant dips from between one and two percent during early November. The digital currency had been trapped in a furrow up to that point, causing it to lose about 30 percent of its value since August.
Zcash (ZEC) Price Today – ZEC / USD
At that time, the price of Zcash (ZEC) continued to plunge regardless of positive news development from the Zcash Foundation. The Zcash Foundation is the organization behind the digital currency. The Foundation finally got its hand on the Zcash trademark it has been looking for over the years. The Electric Coin Company (ECC) previously held the trademark.
Today’s Massive Upsurge Comes among the Latest Charitable Venture of Zcash
The massive price surge today comes amidst the bullish news of the latest charitable ventures of Zcash. According to a report, the Zcash Foundation invested over $40k in the Open Privacy Research Society, a Canadian-based nonprofit organization. The nonprofit organization said it would use the funds to create an array of privacy-centric products, including Cwtch – a new messaging service. Cwtch got its name from a Welsh word that means “hug that creates a safe space.”
The nonprofit organization designed Cwtch to resist the exploitation of metadata and also to promote anonymous group communication. However, despite the bullish news for Zcash (ZEC) and ZEC holders, the same is not said for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP (XRP) investors today. All these digital currencies were heading south when ZEC was deep in the green.
However, some of them have been able to recover slightly, with Zcash still posting more gains that the majority of them at the time of writing. Some analysts are predicting that Zcash would correct lower in the short-term. Will ZEC continue its upward trend?