ZClassic (ZCL) might have been one of the currencies that have lost the most during the massive market crash that lasted for more than eight weeks. During this massive market dip, all currencies plummeted with the market; however, some of the dropping currencies are suffering from more serious losses than their competitive ICOs. ZCL was one of those coins, as it even lost 97% of its price almost a month ago during the initial plummeting market. But, as of the most recent events, ZCL started to trade in the green soon being able to bounce off and forget everything about the latest market dip. Let’s see how ZCL is doing at the moment as well as analyze the latest impressive wave of rises that hit ZClassic.
ZClassic and the Bullish Turnout
After being traded for about 97% down against the dollar while going down in the red, ZCL has had a pretty rough time during the most recent market crash that went on for weeks while continuing with ravaging prices of crypto assets even when all investors and holders thought that the dip was through with.
Even though ZClassic (ZCL) started to deal at a price that it’s far lower than its all-time high as recorded before the market dip, it was obvious that ZCL won’t seize to exist only because of a single defeat in the market even despite the implications that ZCL is going down to the point of no return.
That is how ZCL is now managing to get back on the track with collecting gains of over 70% in the matter of only a couple of gains, while respectfully trading in the green. According to the cryptoanalysts, ZCL has the ability to recover easily even though it had a defeating dip with the market crash due to the fact that its technology is easily forked as well as easily scalable for large projects, which is wanted in the crypto market.
With ZCL beginning its long-awaited recovery, it is obvious that this currency is doing more than well in oppose to the dark days during the eight-week-long market crash when ZCL wasn’t the only currency plummeting with the market.
In case you don’t recall it, the reason behind the great drop on the price of ZClassic was due to having BTCP created as a new fork derived from ZClassic (ZCL), just like ZClassic was one derived from ZCash.
However, BTCP started to grow with being valued at around 50$ per one unit, while one ZCL unit was priced at only 7$ at that time. This is the case because whoever took over BTCP knew what he was doing while ZCL seems to be floating around the market handing out the decision making to the ever-changing market demand. Up from that point, ZCL was only plummeting that way losing the mentioned 97% percent.
Due to its significance to the blockchain technology-driven community, ZCL remained on board while managing to obtain a more than solid rebound in the last couple of days.
ZCL might thank zk-SNARK technology for this case scenario because this protocol allows users to prove that they own certain information without revealing that information or data. That way the ownership of data is completely safe and secure while the asker of information has a validated proof of the ownership of the information holder.
That is how we still haven’t seen the last of ZClassic. The only missing link might be an appropriate team that would take over ZClassic while leading it towards technological improvements.
ZClassic and the Market
ZClassic was down for more than 97% a couple of weeks ago when BTCP was created as a fork from ZCL. However, ZClassic (ZCL) was still able to have its own redemption due to the most recent events in the market.
ZCL is getting a really smooth boost in the market as its trading volume is being rapidly increased while ZCL is trading up against the dollar. After the latest change in the market, ZClassic has seen a piece of sky-rocketing as it has managed to collect the gains of 72.64% against the dollar, which is an amazing comeback and a bullish set of gains for this currency.
In addition to trading up against a fiat value, ZCL is also trading up against BTC, going up for 72.82%, even higher than against the dollar, which means that Bitcoin is currently going down in the market, probably with a slight drop.
After the latest increase, ZClassic (ZCL) can be bought at the price of 13.67$ which shows that the currency is slowly recovering, however, this is a pretty low trade in oppose to its all-time high of over 200$ per one unit.