Home / Zcash News / Zcash Price Analysis: ZCash (ZEC) has downgraded in the crypto market

Zcash Price Analysis: ZCash (ZEC) has downgraded in the crypto market

At the time of writing this article ZCash (ZEC) was trading at $49.33 against the United States dollar (USD) and was showing negative and downward growth of -0.34 percent. The market cap of the coin was $385.89 million and the market supply of the coin was 7.03 million United States dollars (USD).

Nearly a week ago the coin was trading at $66 against the United States dollar (USD) but as you can see now the coin has fallen below the $55 mark c against the United States dollar (USD). The coin has shown a massive downward fall with respect to its price and the market cap of the coin has also fallen very noticeably.

ZCash (ZEC) is a very privacy-focused cryptocurrency and it is very popular among the altcoins as well as between the Crypto traders and buyers. The fall in the coin has come at a time when Coinbase UK, a cryptocurrency exchange platform which specializes in Ethereum, has delisted the coin.

The delisting of the digital currency by Coinbase UK has caused the ZCash (ZEC)  to tell its users to move the ZCash (ZEC) holdings, i.e., the ZCash (ZEC) digital currencies to other platform or to other digital currencies by August 26. The users who do not respond to this and fail to do so will have to see their ZCash (ZEC) digital currency being converted into pound sterling as soon as the deadline will be over. Note, that only the Coinbase UK users will remain affected and this move will not affect any other users.

  • 2

About Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

Check Also

Zcash on its mission be efficient enough to be used by 10 billion people by 2050

As per the reports of Forklog, the cryptocurrency news outlet, a whole new scalable Zcash …

Leave a Reply

Your email address will not be published. Required fields are marked *

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.