Zcash Price

How does Zcash work?

Zcash addresses are either open to all or can be kept from the world. A platform-to-platform transaction is likely to appear to the public. However, it hides the amount being transacted. As a user, however, one can share the details with a third party by using view keys. Certain differences make Zcash unique.

As we have seen, this crypto is all about offering a better privacy feature that major cryptos lack. Zcash uses zk-SNARKS, which enables the order verification. But it doesn't disclose any information about the users involved. This particular cryptography allows one to use this platform with ease and efficiency, that too with nominal charges.

Major cryptos like BTC are pseudonymous whereas Zcash fulfills the name of being anonymous by concentrating on the privacy of the users specifically.

ZEC easily surpasses Bitcoin with a total of 75-second block time compared to BTC’s 10-minute block time. This put ZEC miles ahead of the top cryptos.

ZEC price history

  • ZEC reached an all-time high value in late 2016, just after launching in the market. The coin crossed $5,000 and reached $5,941 on the same day. However, zcash's value never came closer to its ATH.
  • In 2018, the coin gained momentum and showed better signs when it hit $880 in mid-year. However, it soon corrected itself, and the price lingered below the $100 mark. The all-time low was $18.94 in March 2020.
  • In 2021, the bull market also led zcash to climb and hit $370 in mid-year. The coin, however, soon fell below the $150 mark.
  • Although the bearish trend of 2022 was all over the market, ZEC was experiencing some bullish vibes that resulted from the US President’s statement about the importance of privacy when investing in digital assets. The coin was trading at around $195 at this time.

Zcash price today

Considering the volatility, you might wonder, "How much is one zcash today?" The answer would be $25.64. Apart from the current zcash price, there are 16,328,268.75 ZEC coins in the market at this moment.

What determines the price of zcash?

While the crypto market can be highly turbulent, several key factors that include:

Market demand: factors such as increasing adoption by merchants, integration into payment gateways, and usage within decentralised applications (dApps) can contribute to heightened demand and, in turn, drive the price of zcash upward.

Market trends: the market sentiment along with the overall market trends within the crypto space can impact the price of Zcash. Certain factors can drive investor optimism and increase demand, potentially leading to price appreciation. Conversely, negative news, market downturns, or regulatory uncertainty may result in decreased demand.

Supply: zcash operates on a limited supply model with a max capitalization at 21 million ZEC. This factor make an impact on the price as a finite supply coupled with increasing demand may drive prices higher. Additionally, the rate of coin issuance and the mining reward halving events can impact the supply dynamics and the price.

Technological advancements: improvements in privacy features, scalability, security enhancements, or the introduction of new functionalities can attract attention, generate excitement, and potentially increase demand for zcash, affecting its price positively.

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