The relative calm is serving as a contrast to the wild fluctuations seen in late October when it surged to roughly 3,300 BTC (more than $2 million) on Poloniex and declined to 1 BTC, all within the span of just a few weeks of trading.
Despite the sharp volatility it has repeatedly experienced since going live on 28th October, movements calmed yesterday, providing the privacy-oriented digital currency with uncharacteristically modest price fluctuations.
Zen stone image via Shutterstock
The digital currency experienced these relatively modest price fluctuations amid light volume. (ZEC's 24-hour volume hit $1.28m at points, CoinMarketCap figures show).
This figure compares to daily volume of $4.8m and $3.53m on 1st and 25th November, respectively.
The price of Zcash is beginning to show (relative) stability.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an investment stake in the startup supporting Zcash's open-source development.
Opening the session at $68.72, ZEC climbed as much as 6% to reach $72.94 during the day, CoinMarketCap data reveals. The digital currency later gave up these gains, declining to roughly $68.68 by 20:50 UTC, 5.8% lower than the daily high and roughly on par with the opening price.
For more on Zcash, read our latest feature on the protocol.
ING Bank Launches Zero-Knowledge Tech for Blockchain Privacy
ING Bank is continuing further down the path of advanced blockchain privacy with the release of its Zero-Knowledge Set Membership (ZKSM) solution, announced this week at the Sibos banking conference.
Is Demand For Bitcoin Mining in Decline? Chip Maker Slashes Target
Bitcoin And Blockchain Jobs In The US Are Surging
Bitcoin Cash Price Weekly Analysis: BCH/USD Primed for More Upsides
Bitcoin Price Weekly Analysis: BTC/USD Above $6500 Could Accelerate Gains
Bitcoin Price Analysis: Did We Just Get a Reversal Sign?
Sorry, I Turned Off My Bitcoin Faucet (Because Money)
Draconian Digital Search Laws Threaten Bitcoiners Passing Through Customs