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The Resurrection of ZCash (ZEC): Analysis

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Zcash
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The world of cryptocurrencies can be confusing at times, with several tokens making price movements frequently over the course of one working day.  Hence, it is not at all surprising that some projects tend to get resurrected and grow in volume after an extended period of stagnation. The reasons behind this phenomenon can be attributed mostly to positive sentiment regarding the particular token, which is mostly caused by the positive industry news. One such instance was recorded recently, as Zcash (ZEC) started to perform well due to a variety of factors.

A little About Zcash

Introduced in 28th October 2016, Zcash was the product of the Zerocoin Electric Coin Company and aimed at the extensive use of cryptography to provide enhanced privacy to its users. The Zerocoin protocol was thus introduced to provide a superior degree of privacy to the token, compared to the likes of other privacy-based coins like Monero. As of 15/05/2018, Zcash has amassed a market cap of $1,411,758,583 USD with a total circulating supply of 3,919,831 ZEC tokens.

The Reasons for Zcash’s Dramatic Rise

Zcash along with several other cryptocurrencies did not have an encouraging performance over the last few months, with Zcash’s value dropping significantly after the January 08th, where it recorded a high of $780.84 USD. ZCash continued to perform poorly, dropping to a disastrous high of just $180.77 USD on April 11th. Currently, though, the situation has improved dramatically, with the recent gains propelling its value to $357.43 USD at the moment. Some major news events are behind this massive price surge, discussed in brief below.

  1. Integration By Circle: Zcash’s fortunes started to take a turn for the good on April 30th, when it was announced that Circle has added ZCash. The investment app launched back in March has already attracted a strong user-base, and would allow Zcash to attract even more users for widespread adoption.
  2. Alliance with StawkWare: On 11th May, the news regarding the alliance with Starkware industries definitely generated a high degree of positive sentiment around the coin. StawkWare Industries is a reputed developer behind the creation of Starks, a cryptographic proof system. Thus, the news of this partnership has a positive effect on Zcash’s reputation, as the team plans for a better and more secure platform for their users.
  3. Listing on Gemini Exchange: The Winklevoss Twins owned Gemini exchange, which has been in the spotlight for quite some time now, decided to add Zcash, becoming the project’s first licensed Cryptocurrency exchange. The addition to the Gemini exchange is expected to bring even more success to the Zcash project, as more users start to embrace its high degree of anonymity. Indeed the effects were noticeable shortly after the news broke out, with Zcash’s value rising from $263.03 (High) on May 13th to $349.56(high) the next day. The daily trading volume also increased dramatically, increasing from $28,585,200 to $293,688,000 overnight.

Final Thoughts:

The path to success seems clear for Zcash, as evidenced by the 55% growth it experienced on May 14th. This comes as a relief for many investors after experiencing an initial 20% decline earlier. Zcash has since reached the 0.041 BTC mark, with demand for the project expected to rise in the coming days. It is to be noted that in spite of the price surge; Zcash’s relative strength index still appears neutral at 66. With big exchanges like Bitfinex and Binance already working with Zcash, the bearish sentiment in the market seems not powerful enough to negatively affect its value. With more than 90 operational markets spread across several exchanges worldwide, Zcash is not showing any signs of slowing down and is expected to be a valuable investment option in the near future.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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