The Launching of ZCash Has Already Happened


Published on 31 Oct. 2016
Zcash starts

The last hours before the start of the mining of this anonymous crypto-currency were really hot. The attention of all crypto-currency community was very attentive and somewhere even morbid, which resembled the times of gold fever on Alaska, when the gold was first found there. However, the things that happened after the start of genesis-block surprised even experienced traders.

Spectacular Start

Zcash is compared to Bitcoin, many community representatives predict the decay of Bitcoin after Zcash widening. The start of mining of this perspective crypto-currency was really interesting for the general public, this is confirmed by the fact that it was translated live on YouTube. Soon after the start of the mining popular crypto-currency exchanges started to trade $ZEC tokens, the owners of them were informed about the trading date beforehand.

It seems that informational pressing that fell on those interested in cryptocurrency news during the last few days, was harmful for some community members. Soon after the start of the trading someone purchased $ZEC tokens on the sum of more than 0.65 BTC for the enormously high price of 2600 BTC/$ZEC. If we convert it to the current Bitcoin rate, this will make 1.82 million dollars for token.

Natural Rate Stabilization

As was expected, the rate of ZCash went down and from Saturday demonstrates the further tendency to reduction. Now its rate is 0.78 BTC/$ZEC.

One more interesting fact is that December futures of $ZEC tokens also have cheapened. (A futures contract is a standard document that fixes the obligation to buy or sell the basic asset in a particular time and in particular conditions in the future, for the price, fixed at the moment of the fulfillment of obligations by the agreement members). Before the start of mining the price of these futures was reaching 1BTC/$ZEC, and now (12:17 UTC) they are offered for 0,78 BTC on the futures trading platform Bitmex. In this case, a disappointing tendency to the permanent reduction can be traced as well.

Perspectives

To sum up the above mentioned one can conclude that the price of ZCash crypto-currency will only go down. The fact that the number of ZCash coins is quite small now, and the number of tokens will increase, will also facilitate the reduction of the price. However, the perspectives of this young crypto-currency are very good anyway.

 

More news

Deputy Chief of the Russian Central Bank Considers ICOs As Of Significant Potential


The first deputy chief of the Central Bank of Russia Sergey Shvecov stated that ICO financing model has a significant potential, and it is important to preserve its attractiveness and secure the rights of investors.

15 Nov. 2017

Weekend News: Steep Fall of Bitcoin and Record High of Bitcoin Cash


During the weekend, the price of Bitcoin showed extreme volatility, slumping to $5500/BTC for the first time since October, 25. After reaching the minimum, the cost rallied to $6500/BTC.

13 Nov. 2017

Shenzhen To Host a Sixth China Forex Expo


The fifth China Forex Expo was a great success for both exhibitors and visitors

12 Nov. 2017