After yesterday’s marketwide selloff, things seem to have stabilized. Bitcoin (BTC) is now stable at around $5600 and most altcoins are in the green today. Zcash (ZEC) is among the altcoins that have stabilized, and its now trading between $108 and $110. Given that the heavy selling volumes on bitcoin (BTC) have subsided, altcoins that have positive news coming up could start next week in positive territory, as investors move to take advantage of the heavily discounted prices. Zcash is one such coin.
One of the positive news around Zcash is the upcoming blockport listing. Blockport has announced on their website that they will be listing Zcash soon.
This is likely to drive up demand for Zcash (ZEC) now that it is trading at a huge discount, relative to its price just before the bitcoin cash driven collapse. Considering that Blockport is a large and respected exchange it is likely to push up trading volumes in Zcash, especially in the Eurozone. This anticipation for a possible price increase could drive up investments in Zcash going into next week. Blockport listing could push Zcash (ZEC) back to its pre-crash levels of $135 – $138.
But the biggest news around Zcash (ZEC) remains Coinbase. Zcash is one of the five cryptos that Coinbase has shown an intention of listing in the near future. This was part of the reason why Zcash (ZEC) was pumping before the bitcoin cash fiasco hit the markets. Therefore, now that the bitcoin issue seems to have been priced in, Zcash could rally again as traders take positions driven by Coinbase FOMO. If Coinbase confirms that it is listing Zcash next, then the value of Zcash could surge to over $200 in the short-term. Its recent rally has shown that Zcash has the momentum to exponentially increase in value in a scenario where there is some strong good news on the horizon.
More long-term, Zcash’s growth prospects are somewhat guaranteed. That’s because its core features are in demand, and will continue to grow in demand. The need for privacy in transactions will always be there, which explains why privacy coins like Zcash stand a good chance of growing in value in the long-run. Zcash (ZEC) has already gained widespread adoption for these features, both at the retail level and the institutional level. Major corporations like JP Morgan have already adopted Zcash (ZEC) privacy features to give clients privacy in transactions.
Besides, Zcash recently activated sampling Z-addresses, which will act as a catalyst for this adoption. These addresses add to the overall efficiency of Zcash (ZEC) and could play a role in the long-term adoption of Zcash (ZEC). When combined with the fact that it has a relatively low coin supply, Zcash is in a good position to grow consistently in the long-run.
The more crypto space grows, and society appreciates blockchain technology, the value of privacy coins, especially those compliant to regulations, such as Zcash (ZEC), are guaranteed growth. It could easily break the $1000 mark in the future. It has the fundamentals for such kind of growth.