Zcash is one of the most popular privacy-oriented cryptocurrencies in the market, holding the spot of the 19th-largest currency in accordance with its market capitalization. Zcash was announced as a listing interest of Coinbase, one of the top exchange markets for cryptocurrencies, where listings are almost always followed with major price surges. In one of the previous announcements that came out back in June, Coinbase announced that ZEC is being explored for Coinbase support in order to join the growing list of assets that are becoming available on the exchange. Months later, in December, ZEC was added to the platform through an official listing announcement,however, there were no signs of price pumps or spikes on December 5thwhen the currency was officially added.
Zcash Misses on the Potential Coinbase-triggered Price Surge: Losses -28% in a WeekZcash was announced for support months back when the Coinbase exchange announced a major change in their policy which included the proactive listing of digital currencies. The main goal of the modified policy is to add more assets that turn out to be compliant with the Digital Asset Framework used for supporting listings on the exchange that Coinbase represents. ZEC was officially announced for a Coinbase listing in the middle of the dipping market during the first week of December, and even though holders were expecting to see at least a minor positive change in the price of ZEC, the crypto missed on scoring a positive return.
Zcash (ZEC) Price Today – ZEC / USD
The case was quite the opposite from what was expected went on dipping despite the listing announcement that came out on December 5th. Unlike it was the case with Basic Attention Token (BAT), 0x (ZRX) and Ethereum Classic (ETC) once the listings were announced and the cryptos managed to acquire a spike during the course of 24 to 48 hours since the listing announcement, ZEC went on dipping.
Zcash Loses -28% of Its Value in Another Bear Week: How Will Zcash Perform in 2019?Zcash is dropping heavily with the rest of the market; however, it still manages to keep its rank above the list of top 20 due to the fact that the entire market appears to be collapsing. Zcash is entering another round of daily dips on December 10th, also losing -28% in the course of a single week, despite the fact that this was the week when the Coinbase listing was announced. That is how Zcash went from the price of 72$ as marked on December 5th to its current value of 56$. In the worst case scenario, ZEC will keep up with the frequent dips, which could drive the crypto down to the price of 40$ by 2019. In case ZEC enters 2019 at a new low, the highest price in 2019 the crypto could reach would probably be 70$. In case the upcoming year arrives with bull trends, ZEC might have a chance to get back to the value of above 100$, potentially climbing above 300$. However, the crypto would still be traded far from its record price of nearly 3200$.
Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.