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The Resurrection of ZCash (ZEC): Analysis

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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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