Is there hope for Zcash (ZEC) to reach a new ATH?

Abiky

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Quote from: cryptoaddictchie on October 18, 2023, 08:04:09 AM

Quote from: Abiky on October 18, 2023, 06:25:38 AM

The developer team already announced their intentions to make Zcash a PoS blockchain. It seems they will be following ETH's footsteps. If the upgrade gains the approval of the community, market prices will "pump" like crazy. At least for a short period of time. This should be able to bring back the hype. If you're curious about the transition to PoS, I invite you to read all about it here:

Oh so they will go on that road like what eth did. Im sure this will served as catalyst for a pump but of course they must have been strict and more likely a good launch. Anyway when they gonna do that? Is this plan confirm or just still a plan? Did you attached a link? I think you forgotten it.

Not really fan of zec but this could be a good short to medium trading opportunity.

For some reason, the link did not appear on my post. Here it is again: https://electriccoin.co/blog/the-trailing-finality-layer-a-stepping-stone-to-proof-of-stake-in-zcash/

Quite an interesting read if you tell me. Zcash will become a hybrid PoW + PoS coin and then switch to full PoS. A great opportunity to buy ZEC at a cheap price, IMO. Wink

cryptoaddictchie

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Quote from: Abiky on October 18, 2023, 06:25:38 AM

The developer team already announced their intentions to make Zcash a PoS blockchain. It seems they will be following ETH's footsteps. If the upgrade gains the approval of the community, market prices will "pump" like crazy. At least for a short period of time. This should be able to bring back the hype. If you're curious about the transition to PoS, I invite you to read all about it here:

Oh so they will go on that road like what eth did. Im sure this will served as catalyst for a pump but of course they must have been strict and more likely a good launch. Anyway when they gonna do that? Is this plan confirm or just still a plan? Did you attached a link? I think you forgotten it.

Not really fan of zec but this could be a good short to medium trading opportunity.

Abiky

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Quote from: cryptoaddictchie on October 17, 2023, 06:21:16 AM

Maybe for now. Each coin or tokens has unique way to be recognize from the community and maybe zec's time isnt now. Most people are into hype and they lack that. Im not sure though but if you are investors might as well check others than buying a low engagement project. Governmemt will likely not support this no matter what especially its concept.

Of course. Without hype, I don't see ZEC "pumping" anytime soon. The developer team already announced their intentions to make Zcash a PoS blockchain. It seems they will be following ETH's footsteps. If the upgrade gains the approval of the community, market prices will "pump" like crazy. At least for a short period of time. This should be able to bring back the hype. If you're curious about the transition to PoS, I invite you to read all about it here:

Exciting times ahead for ZEC and Zero-Knowledge proofs as a whole. Even ETH L2 networks have been using ZKPs. Maybe someday ZEC will go all the way to the moon? Just my two sats. Cheesy

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

Yes, I think so. What makes the price increase is that there is demand and the demand comes from central platforms that will remove any currencies related to privacy, and Zcash is not the only one that promotes itself as a privacy currency, so even those who will search for privacy are individuals, groups, or entities. They will try to use Monero instead of Zcash.

The project's only hope is that Monero will fail or that more countries will ban that currency and provide an opportunity for alternatives such as Zcash to be used or that Zcash will be developed so that it is an intermediate link between privacy and transparency.

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The hype of privacy coin has been going down so hard. I see no hope for zcash to go to the new ATH till bitcoin will also able to reach it. it's not even possible to expect a surprise pump to come in the privacy coin. Privacy coin is something that is being obsolete.
It needs a miracle for the privacy coin to go to the moon or even reach new ATH again. Im not even thinking if zcash will also able to do that too. We are in the longest bearish trend that has ever happened.
The war, covid and many things have been destroying the market.

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

...Do you think Zcash's downfall had to do anything with being a privacy coin?...

I think that the privacy of the Zcash coin does not affect the price, since it has a listing on all major exchanges, including Coinbase and Binance. And this is explained by the fact that despite its privacy, the regulator actually has no claims against it. Here, rather, the general situation in the cryptocurrency market has a greater influence on the price of Zcash.

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

Since the early days of launch, Zcash had a market price well above $2k per coin. Popularity/hype faded away and now it's sitting in the "double digits". With many improvements made on the network lately (like removing the need for a trusted setup, among others), ZEC should've been among the top ranks in market cap by now.

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

Its current price is 25$ something and previously it was about 56$+. It means that is less than half what it was before but looking at its total supply of 16,328,269 ZEC that is huge at the price it has now. And also has a better volume of 36,609,219 which is amazing with having listed on top-tier exchanges as well. And also I have seen in between some coins if it is listed at an Exchange like Binance we can expect from it that it will reach its height. It is also at Kucoin which is also the biggest Exchange.

So, I think it can reach to new ATH but it will take some time and all these coins will have some good news when the market is going to recover, these all depend on market conditions. Buying now may be risky at all.

cryptoaddictchie

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Quote from: Abiky on October 17, 2023, 06:12:03 AM

There's nothing that would "pump" ZEC's market price now, especially when the majority are focused on smart contracts, and "meme" coins. Privacy coins are widely unpopular thanks to governments

Maybe for now. Each coin or tokens has unique way to be recognize from the community and maybe zec's time isnt now. Most people are into hype and they lack that. Im not sure though but if you are investors might as well check others than buying a low engagement project. Governmemt will likely not support this no matter what especially its concept.

Abiky

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Quote from: cryptoaddictchie on October 16, 2023, 07:41:47 AM

Probably due to market situation at all. Not just zcash is down but all other tokens too. Its up to their development progress if theres gonna be a movement with relative to the current market. For me its normal, but due to privacy setting maybe thats also being one of the reason since monero is also stuck up with its price maybe people doesnt believe or more hype on privacy coins rather than other types of crypto projects.

Most altcoins are down because of the bear market. Zcash is no exception. But when you compare ZEC's price vs the competition, you'll notice there's a huge difference. ZEC hasn't had any major price movement for quite a few years now. The cryptocurrency is way below its ATH of around $1.6k per coin. That's a huge loss for investors who bought the coin at launch.

I've thought the poor price performance was because ZEC was a privacy coin, but I think the "founder's reward" had to do something with it. For those unaware, a portion of each ZEC mined went to the company's founder's address. That "tax" is no longer being collected, but it did have an impact over the short-term growth of the project. There's nothing that would "pump" ZEC's market price now, especially when the majority are focused on smart contracts, and "meme" coins. Privacy coins are widely unpopular thanks to governments' propaganda/misinformation. If Monero is having a hard time getting traction, don't expect Zcash to do better. At least, the ZEC blockchain is working as intended. As long as it stays decentralized, there should be nothing to worry about.

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

Since the early days of launch, Zcash had a market price well above $2k per coin. Popularity/hype faded away and now it's sitting in the "double digits". With many improvements made on the network lately (like removing the need for a trusted setup, among others), ZEC should've been among the top ranks in market cap by now.

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

I did not see any major development recently in the Zcash. Other thing is we are in the bear market right now. All the altcoins are dumped 10 times. If Zcash to reach ATH, BTC needs green candle. otherwise Zcash will be rekt.

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

Since the early days of launch, Zcash had a market price well above $2k per coin. Popularity/hype faded away and now it's sitting in the "double digits". With many improvements made on the network lately (like removing the need for a trusted setup, among others), ZEC should've been among the top ranks in market cap by now.

I never trust altcoins, they will come and go, too many top 10 alt coins have disappeared since 2012, only a few have survived like xrp, eth, xlm, and even then it's time for them to disappear too like zcash, at least the price has dropped a lot. I got into alcoin too but only for the short term, the long term I keep is still bitcoin.

Quote

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

and it seems like the era of coin privacy is over.

cryptoaddictchie

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Quote from: Abiky on October 16, 2023, 05:58:05 AM

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

Probably due to market situation at all. Not just zcash is down but all other tokens too. Its up to their development progress if theres gonna be a movement with relative to the current market. For me its normal, but due to privacy setting maybe thats also being one of the reason since monero is also stuck up with its price maybe people doesnt believe or more hype on privacy coins rather than other types of crypto projects.

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I thought about this too, maybe its involvement as a privacy coin like XMR is why its popularity is suppressed. Since several governments in the world banned privacy coins, many of them have fallen into disrepair and are having difficulty reaching ath. However, I believe that privacy coins still have the opportunity to continue to grow, will the increasingly heated war and economic crisis be able to make privacy coins hype and experience a bubble?

Abiky

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Since the early days of launch, Zcash had a market price well above $2k per coin. Popularity/hype faded away and now it's sitting in the "double digits". With many improvements made on the network lately (like removing the need for a trusted setup, among others), ZEC should've been among the top ranks in market cap by now.

What happened? Do you think Zcash's downfall had to do anything with being a privacy coin? Or is it something else? Do you believe there's still hope for the project? Your input would be greatly appreciated. Thank you very much.

Topic: Is there hope for Zcash (ZEC) to reach a new ATH? (Read 139 times)