Cryptocurrency News Today – Electric Coin Co. Releases New Crypto Rating Ranking Zcash in 11th Place – May 7th, 2020 

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  • Zcash is Ranked 11 in Terms of Cryptocurrency Adoption According to the Latest Publication by Electric Coin Co.
  • Bitcoin is Still Number 1, Ethereum Number 2, and Cardano is Number 3
  • Zcash Price Falls Against the USD Trading in Red Against the USD 

Zcash News Today – Zcash isn’t the most popular cryptocurrency in the industry but the network has been slowly carving out a niche for itself among high rollers like Bitcoin and Ethereum. According to the latest report from Electric Coin Company, Zcash has made a lot of progress because it has many use cases. The network, which was created in 2016, has played a key role in the global adoption of cryptocurrencies. Right now, Zcash ranks number 11 in terms of daily transactions according to CoinMarketCap. This is even though the token ranks 26th on the list.

Zcash News Today – The State of Zcash Adoption

The publication released by Electric Coin company is titled “the state of Zcash adoption”. The publication contained details of all the achievements the Zcash network has made over the last four years. It listed many of the use cases of the network and mentioned the new strategy by Zcash aimed at promoting its adoption. The parent company of Zcash, CCP, said that it has spent a lot of time and money building a secure infrastructure for the network. The goal is to manage the network while providing liquidity in the market. This is why the token is listed on the top 10 cryptocurrency exchanges in the world.

Zcash (ZEC) Price Today – ZEC / USD

NamePrice
bitcoin
Bitcoin
$46,551.00
zcash
Zcash
$118.39

One of the most unique features of the network is its anonymity. Despite this feature, the token is still being traded on FinCEN registered exchanges. Most of the major payment service providers out there provide support for Zcash. Part of the post by ECC was as follows:

“ECC has invested in relationships with best-in-class service providers. Today Zcash is supported by regulated and institutional-grade custodial and wallet services, and we continue to prioritize work on wallet libraries and SDKs to support the growth of the ecosystem.”

Cryptocurrency News Today – Bitcoin, Ethereum, and Cardano Take First Second and Third Place

The publication also listed Bitcoin, Ethereum, and Cardano in first, second and third place. Bitcoin has been the foremost cryptocurrency by price and trading volume for as long as cryptocurrencies have been in existence. Even as altcoins started growing and gaining adoption, Bitcoin continued to maintain its dominance in the market. Maybe in the next 10 years, networks that offer multiple use cases will be able to Bitcoin’s place in the market.

The Zcash token, just like others in the market, has been correcting lower for the past 2 days. At the time of writing, the price of the token was $42.88. It is down by 3.50% against the USD and down by 3.99% against BTC. The trading volume over 24 hours is $305,631,336 and the market capitalization is $390,319,058.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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