Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in the startup developing the open-source Zcash platform.
ZEC prices surged on their first trading day of 28th October, reaching approximately 3,300 BTC (more than $2 million) on Poloniex. However, the digital currency's price quickly declined, ultimately falling to 48 BTC that day.
Zcash has generated significant visibility since its launch, with supporters pointing to its zero-knowledge proofs, called zk-SNARKS, as a means of achieving greater privacy for transactions.
ZEC tokens have never reached $40 before, so this price level would represent a new low for the digital currency.
The price of Zcash (ZEC) inched closer to $40 on 15th December, falling to as little as $40.08 during the session, according to data from CoinMarketCap.
Zcash has thus far failed to obtain adoption, and cryptocurrencies like Monero remain dominant on the Dark Web, where users derive significant benefit from maintaining privacy in their transactions. Since ZEC tokens have not obtained a meaningful use thus far aside from trading, some market observers have asserted that their value is, at present, purely speculative.
Cryptocurrencies Continue Recovery, Resume 2017’s Growth Trend
Cryptocurrencies continued their recovery from last week’s massive price fallout, resuming the upward trend that has characterized 2017. All but 12 of the top 100 cryptocurrenices posted gains in the
China Quietly Tests Digital Hybrid Currency
In a move that is no surprise to industry experts, China has begun testing its own digital currency for interbank transfers. Recent speeches by national bank insiders along with some publications
Bitcoin Price Stabilizes at $2,700, Another Surge Imminent?
After a major market correction which sent bitcoin price from its all-time high of $2,973 to $2,261, bitcoin price has stabilized at the $2,700 region. Since the June 14 fall to $2,261, bitcoin
The Number One Way Billionaires Get Rich (And how you can too!)
Ever wonder how most of these millionaires and billionaires got so rich? The answerâs simple. Â Take a look at Mark Cuban, who is worth $3 Billion. He made the majority of his money in the dot-com
Visa Hiring Blockchain Engineers To Build New Payment Gateway
In another sign of the times, Visa, the international credit card and banking institution, is actively seeking Blockchain experts to add to their tech engineering teams. This should come as no
Which Universities Are Offering Blockchain Courses?
Blockchain, the technology that powers cryptocurrencies such as Bitcoin, is gradually gaining mainstream attention as more prominent US universities are adding it to their course lists. For those
Local Government in China Trials Blockchain for Public Services
A city district in southern China is using blockchain to streamline government services for its one million residents.
Chan Cheng District, within Foshan City in Canton province, announced during a
Player at BitStarz Lands a $112.4k Win
An evening of intense playing turned fortunate for a player, as he bagged a whopping $112,400 win from his online bets. The crazy outcome took place at BitStarz, one of the leading online Bitcoin