Zcash (ZEC) is one of the rare projects that would survive cryptographic elimination


The Zcash price has been continuously trekking on the road to mediocrity, as of late. It reached the BTC monthly highs of 0.02977460 BTC when Coinbase announced that it would examine the currency as a possible addition to the portfolio. The highs in USD arrived a little later on 26 th when a Zcash currency went at a price of 228.27 USD. August was a similar month as the value of the USD drops continuously, with BTC remaining relatively stable until a couple of days ago.

Both values ​​have plummeted a bit today and a Zcash currency can currently be bought for 142.24 USD (a jump of 2.17% in the last 24 hours) /0.02207929 BTC (an increase of 0.73% in the last 24 hours). The daily trading volume remains high, with trading receipts of 15,431 billion BTC going on today, with LBank and Huobi accounting for almost 60% of that. The market capitalization of Coin stands at 652,209,758 USD, making Zcash the 19 most valuable currency in the world.

TradingView's CryptoMedication provided a rather in-depth analysis of coin-related techniques:

"As you can see from the image above, the price has been choked as recently. more importantly, the price is pushing against a really solid support for Zcash Now, if the support can hold and the price is bouncing from here, then the gains will probably be more than decent, but if the support breaks down, this will probably be a problem. "

After this, he adds that the RSI and EMA indicators appear rather bullish (except the fact that the EMA-50> EMA-26> EMA-12). He concludes his analysis with a rather neutral prediction:

"The price does not seem to answer any fundamental news surrounding Zcash, and on the basis of these technicians, it is almost impossible to seriously deduct the $ ZCash price action when we do not observe that the price rebounds or falls below the support point at the moment. " You can check its full analysis here.

The project released a weekly update aimed at providing its community with the latest project details. According to this publication, we are working on version 2.0.0 of the client, Sapling, the rebranding of the website and the creation of other community meetups. The ZEC team has confirmed that version 2.0.0 scheduled for release on August 13 may end up late; at the time of writing this article, there is mention of Zcash 2.0.0 on the githubs of the teams, but nothing has been posted on their release blog.

🏆 Find out how you can create a paper wallet – click here to read more cryptographic wallets.

The team also attended the decentralized Web Summit hosted by the Internet Archive. They also announced their plans to visit the RustConf in Portland, an event that Zcash Company will sponsor and with a booth. Finally, in line with their "expansion of the enlarged community", the company will hold a meeting the night before the conference, where people can go out and talk about the use of Rust for the development of blockchain.

At the moment, there are no further updates from the team. Currently they are focusing on the next version 2.0.0, with the work mentioned on the website's GUI, Sappling, zkSNARKs in the background. One last interesting curiosity could be the fact that Vitalik himself has recently praised the coin. For now, the community waits for the 2.0.0 client and hopes that something can be done about ASIC mining that ruins everyone's profits. When asked by a Twitter user if he comments on coins other than ETH, Vitalik replies with the following tweet:

The writers and authors of CapitanAltcoin may or may not have an interest in any of the projects and companies mentioned. None of CaptainAltcoin's content is an investment advice nor a replacement for the recommendations of a certified financial planner.

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