There are a vast number of digital assets that have the potential to be top ten coins. Such tokens are ideal for investing in. The prospects are high and on the positive side for such tokens. Some cryptocurrencies have developed multiple products and set up unique offerings in a bid drive more adoption. One of such coins that is making a name for its self in the crypto space is Zcash.
Zcash has the potential to displace Bitcoin as the leading medium of exchange when it comes to digital assets. Zcash can become the store of value in the cryptocurrency market. Now, it is clear that ZEC’s main attraction in recent days is its privacy feature. It is understood that this offering is making the coin look more appealing for Bitcoin investors. The reason for this is because for Bitcoin transactions, the anonymity of the parties transacting isn’t maintained, and transaction rates are too high. But with Zcash’s privacy feature this issue of anonymity will be tackled.
Zcash (ZEC) Price Today – ZEC / USD
Zcash Price Prediction: The Price of Zcash Surged Recently After Z11 of Bitmain Brought Extra Hash Power to ZEC – Zcash Price Forecast
Recently, the price of Zcash surged as the Z11 miner of Bitmain brought additional hash power to ZEC’s network. Now, the cryptocurrency market is experiencing high volatility.
This is negatively impacting the price of Zcash, but, once the condition has improved, ZEC will exercise its potential to attain greater heights. Moreover, transaction parties on the network can maintain full anonymity.
Zcash Price Prediction: Current Position of the Price of Zcash – Zcash Price Forecast
The price of Zcash according to CoinMarketCap is $69.07. The digital asset has a market cap of $455,366,547 plus a circulating supply of 6,593,119 ZEC. The coin is currently the 23rd among the top cryptos by market cap according to CoinMarketCap.
The chart highlighting trading for the ZEC/USD pair reveals that presently, the price of Zcash from a few hours ago was trading at $70.43. It also had a 24-hour trade volume of $428,752,525. The same chart also shows that at approximately 1 month ago, the price of Zcash was trading at $61.86 with a market capitalization of $396,770,422. So, in the 1 month period, the price of Zcash has increased by 13.85%. It has a support position of $65.61.
Zcash Price Prediction: The Price of Zcash May Not be Bullish for the Long-term – Zcash Price Forecast
The long-term outlook for the price of Zcash doesn’t appear to be bullish. But it’s fair for short-term and medium-term investors. Investors can take advantage of the current rates and stack up tons of ZEC. Then wait for gains in the medium-term. The network’s privacy feature has begun to make a difference and the Zcash price prediction is bullish.
According to reports, ZEC has already started gaining a large number of users due to the coin’s anonymity feature and its low transaction cost. Besides, the network’s transaction speed is way faster than many others. The network also provides better security when compared to Bitcoin. There isn’t any doubt that ZCash has solid potential. However, because the market isn’t stable, it wouldn’t be good to invest in ZEC in the long-term before this year ends.