ZClassic (ZCL) is one of the altcoins that has been through a rough time during the market crash while losing 97% on its price during the tough period of 8 weeks straight and beyond. Many coins have been struggling to hold onto their stability, but many have failed due to the horribly strong currents of the dip, and ZCL was one of those coins. However, as the market is slowly starting to recover, ZClassic seems to be doing a solid good job on bouncing off.
ZClassic and the Horrible Drop
We already wrote about a horrible drop that stroke ZCL during the market crash, making ZClassic one of the biggest losers in the market for more than several weeks. The general opinion, in this case, was that ZCL started to drop dizzily due to the general opinion that ZClassic just didn’t manage to find its way around after being forked out of ZCash.
While ZCash continues to progress, ZClassic was only dropping from that point, causing grave losses to its market capitalization. One of the reasons for the massive drop ZCL has gone through is said to be due to the case where the policy of ZCL was only focused on the miners. With ZCL, miners were allowed to keep all the mined units after aiding in the protocol of verifying processing transactions, which is more than benevolent for ZCL miners.
However, it seems that ZClassic forgot about getting involved in implementing new solutions and working on technological improvements that would attract investors. Since ZCL failed to do so, the crypto soon fell out of the spotlight where it could attract serious investors and acquire partnerships that could potentially sky-rocket the currency.
Moreover, there is another, a probably more crucial reason for having ZCL dropping as hard. Apparently, in March when ZClassic was still dropping hard, Bittrex, one of the major crypto market exchanges, decided to delist ZClassic.
This case affected ZCL negatively by additionally lowering its price and contributing to the further dropping in the market that has already taken its toll at the time. Moreover, availability and visibility of ZCL were significantly lowered, so it immediately became less interesting and less available for investors, giving out a vibe of a coin that offers no prosperity. ZCL was thus ravaged in the market. But, luckily, the tables are turning for this currency.
ZCL is Having a Rebound
Just when it was thought that ZCL has lost it completely due to neglect from the dev team and due to the recent drop of 97% that was an unfortunate product of a long-lasting market crash, ZCL started to recover.
What might be the number one reason for this fortunate turn out of events? ZClassic was once again listed on Bittrex, starting to trade on this exchange once again after it was initially delisted.
This case naturally increased ZCL’s visibility, so the coin was able to bounce off from the market dip while starting to trade in the green.
Since Zooko Wilcox addressed the public regarding this matter, it is expected that the team might finally start working on improvements that could help ZClassic get the place in the crypto world it deserves, potentially getting near the value ZCash has at the moment, which is still far from what ZCL is worth.
How is ZClassic doing at the Current Moment?
ZClassic is finally trading in the green with solid gains that are helping this altcoin get back into the game.
As the market is massively trying to recover from the rough market crash that seems to have finally ended, ZCL is surely following up with the trend as it is rising up against the dollar, while successfully bouncing off.
After the latest change in the market, ZCL is trading in the green with the latest increase of 1.55% against the dollar. At the same time, ZCL is going up against BTC for 2.91% while trading in the green, which at the same time means that ZCL is currently recovering at a faster pace of growth in oppose to Bitcoin.
ZClassic can now be purchased at the price of 4.85$ per one ZCL unit, and everyone is expecting to see ZCL breaking through a value of 5$ per unit.
This currency had its all-time high price recorded back on January 7th when it was trading at the price of 235$ per one ZCL coin. However, it is more than obvious that ZClassic has a long way to go until it is even potentially able to get near its record dealing price.
We will be updating our subscribers as soon as we know more. For the latest on ZCL, sign up for our free newsletter!
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.
Image courtesy of Michael Leland via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
Warren Buffett and TRON’s Justin Sun Finally Meet for Charity Lunch
Should You Invest in TRON in 2020?
CoinField Launches Sologenic Initial Exchange Offering
featured2 weeks ago
Altcoin Magazine has Rebranded as The Capital and 100x’ed its ambitions
Bitcoin1 week ago
5 Best Places to Bet with Bitcoin
Don't Miss1 week ago
Best Study Resources to Pass CompTIA SY0-501 Exam and How Should You Use Exam Dumps to Prepare?
Don't Miss7 days ago
Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page
Don't Miss1 week ago
Learn 2 Trade Launches Real-Time Crypto Signals Service
Don't Miss1 week ago
What Prevents Crypto from Becoming the Top Payment Method
Featured news3 days ago
5 reasons why you should use a brokerage exchange service to buy and convert cryptocurrencies
Bitcoin5 days ago
Trusted Crypto Tumbler To Protect Your Wealth