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Zcash On Its Way Up With Bullish Performance While Bitcoin Declines

Zcash On Its Way Up With Bullish Performance While Bitcoin Declines
  • This past week has seen a steady decline occur in the crypto markets.
  • But Zcash has recorded a positive price movement in recent days. 
  • The coin hasn’t performed great for the better part of 2019 but some steam seems to have been picked up for the token recently.

This past week has seen a steady decline occur in the crypto markets. Bitcoin fell by almost 10%, and the rest of the space hummed a similar tune. 

Whereas the market has seen a slight recovery now, at the time of writing, Zcash has recorded a positive price movement in recent days. 

The coin hasn’t performed great for the better part of 2019 but some steam seems to have been picked up for the token recently. In a report from Coin Metrics’ they highlight that it has seen two weeks in a row of positive growth.

Three years in the making

Zcash (ZEC) was launched in 2016 and was based off Bitcoins issuance schedule and its high issuance rate which was noted to be the key factor for its lack of performance over the course of this year. The crypto project is expected to go under a halving at the end of next year, which is sure to be an interesting thing to keep an eye on for sure. 

According to the aforementioned report, they also highlight the annualised issuance rate of the coin which has seen a decline as the block reward indicates a smaller percentage of its total supply. 

The report goes onto add:

“Over the course of 2019, the annualized issuance rate has declined from 47% to 32%. By late 2020, the annualized issuance rate will further decline to 25% just prior to the block reward halving and will then decline to 12.5% immediately after the halving.”

It will be interesting to see how this plays out for Zcash and what the halving will mean for the project in November next year. For more news on this and other crypto updates, keep it with CryptoDaily!

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