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Zcash (ZEC) Sapling Transaction with Shielded Output at 388k is more than Double from Last Year

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The Zcash privacy set is based on the number of sapling transactions with a shielded output. It’s at 388k, more than double what it was a year ago.

The ECC tracks different on-chain metrics, which are related to transparent and shielded storage and use.

Zcash’s privacy set protects users from on-chain linkability analysis. Every shielded pool in Zcash has its own privacy set.

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The Sapling privacy se, is more than 2x more significant than it was a year ago, measured by the total number of transactions with at least one shielded output. Transactions with at least one shielded output are a good measure of the Zcash privacy set because, the more shielded outputs in a given pool, the more difficult it is to link transactions that interact with that pool.

For clarity, Shielded output means the path of the transaction is not easy to trace.  If there are many outputs in a pool whose path is difficult to trace, then privacy is ensured.  Zcash users benefit from the privacy settings with time.

Thus Zcash is superior to coins which use mixing where the privacy set is limited to the number of transactions mixed together at a single moment in time.

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For clarity, ZEC is a privacy-protecting cryptocurrency. It is fast and confidential with low fees.    It is hailed to be perfect for mobile payments.  Zcash believes strongly in that financial privacy is very important.

Zcash shielded transactions keep all users’ financial information private and, therefore, privacy under the control of users.

Zcash can be used to pay friends, family, and service providers.  It can be used at the favorite stores or online merchants.

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Zcash claims to be the ‘HTTP of blockchains,’ which protects your freedom as you save and spend value as you like.

Zcash has been launched by one of the most respected technical teams in the world.  Zcash is the first project to implement zk-SNARKs, which is a novel form of zero-knowledge cryptography, which provides users with the strongest privacy available in any digital currency.

Several independent organizations have been funded to innovate on Zcash.  Zcash is already available on top exchanges, digital wallets, and in a growing number of applications.

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Zcash is best known for its built-in encryption, which permits private data in a public blockchain. The dev fund is most significant about Zcash as it’s self-funding.  The funding permits developers to continuously improve the protocol to prevent the currency from being undermined, weakened, and vulnerable to capture, or be steered in a direction for individual benefit.

Zcash

ZCash is Back: Major CEX Bittrex Relists ZEC

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One of the most popular privacy-focused cryptocurrencies, ZCash (ZEC), is available on Bittrex again.

Bittrex, a cryptocurrency exchange with fiat support, listed in the top 15 by trading volume, brings ZCash (ZEC) back to its spot trading suite.

ZCash (ZEC) is relisted by Bittrex

According to the official announcement shared by the Bittrex Exchange team, ZCash (ZEC) privacy-focused cryptocurrency is back on the platform.

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On June 30, 2021, when ZEC cheerleaders challenged Monero’s privacy, its former lead maintainer Riccardo “Fluffy Pony” Spagni asked one of them to de-obfuscate the transaction he shared.

The arrogant ZEC enthusiast failed to respond to the challenge.

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ZCASH, HOT, HBAR, CHZ, Price Attempt To Rebound, Levels To Watch-Out!

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he crypto space experience a massive blood-bath, somewhat similar to that of the mid-may crash, yet with low intensity. The plunge in Bitcoin price of about more than $7000 in minutes amazed the space. And the Ethereum price, Cardano price and XRPprice also appeared to have shaken up. Therefore, while the major cryptocurrencies dip, yet the altcoins with low market cap follow. ZCASH, HOT, HBAR, CHZ, etc price struggling to shed more gains.

ZCASH Price 

Following the market trend, the ZCASH pricealso had bottomed hard to hit $121. Yet with strong bullish momentum, the asset rebounds well. The price accumulated well after a substantial uptrend from its lows. On the path to hit $200, a major crash dragged down the price below. However, the price rebounded before the strong support levels at $102, hence keeping the hopes alive for an uptrend. However, the levels surrounding $174 are pivotal to head towards the target.

Holo (HOT) Price

Holo price has experienced a massive breakdown every now and then. The recent attempt to smash the immediate resistance levels at $0.0165 also went in vain due to bearish market sentiments. Yet the assets appear to be in the bearish trap and could visit lower lows. Currently testing one of the important support levels at $0.009532 & a bounce could change the game. 

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Hedera Hashgraph(HBAR) Price

HBAR price appears to be more consistent compared to the other altcoins in the crypto space. After an extensive rally in the first half of 2021, the mid-may crash could not extract much of the price. However, despite multiple pullbacks, yet the price continued to propel high aiming the set target. The recent crash has neutralized the gains of the past couple of days, yet hitting $0.33 could confirm an uptrend. 

Chiliz (CHZ) Price

Chiliz price amazed the crypto space with huge spikes that faded later. The mid-may crash affected teh price rally to some extent, as it continued to consolidate for a very long time. Yet in very recent times, the price initiated to climb high. Woefully, the fresh downtrend dragged the price below $0.3, yet bounced back perfectly. Currently, it is important for the price to march above $0.45 to confirm the uptrend. 

To summarize, the altcoins are following a substantial retracement following a steep fall. As BTC price, ETH price, ADA price and XRP price are recovering their losses, many altcoins also follow. And hence an upcoming couple of hours could be extremely crucial for the price to sustain within the uptrend. 

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Zcash Price Analysis: ZEC Coin Price Continues To Fall For The Next Support

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  • ZEC coin price is currently in a downtrend and can soon hit the support of 100MA.It is trading with a loss of 3.3% in the intraday session.
  • Zcash price technical indicators suggest a downtrend in price for the future. In contrast, ZEC/BTC pair is also down by more than 3.89% in the past 24 hours

ZEC coin price is currently in a downtrend and can soon observe a new low in the future. Zcash coin price has observed a loss of more than 4% in the past 24 hours.  The coin has a negative ROI of -96% but it can soon convert to the positive and reach to a new high.

The bullish trend of the ZEC can see a halt near the value of $175. On the downside it may observe a bounceback from $130. Zcash coin price is currently trading above the 50 and 100 Days Moving Average. The price may hit the support of 100MA very soon.The 100MA  line is near $129 which may act as a temporary resistance for the price. ZEC/BTC pair can also observe a breakout from the previous resistance and can skyrocket . One can invest in ZEC as per the price action and their risk adversity.

Zcash coin has a market dominance of more than 0.09% and is ranked 63rd in the CMC. ZEC price is currently down by more than 90% from its all time high but can soon revert to the uptrend. Volume to market capitalization ratio of the coin price hints towards a strong uptrend in price for the future

Technical Indicators Of The ZEC Coin Price Suggests A  Downtrend In Price

Source: Trading view

The weekly technical  chart of ZEC crypto price suggests a bullish momentum in price for the future. On the daily chart the asset price is currently in a downide momentum   ZEC coin price might hit a lower support in the future. The coin price has formed a bearish engulfing pattern on the daily chart. If the price continues to go down in the channel then it may hit a support of $100. ZEC/BTC pair can also see a new high being formed in the future

CONCLUSION

ZEC crypto price is currently observing a downtrend but can soon see a new high. It can soon be profitable to the investors in future. ZEC/BTC pair can also see a strong bullish rally

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TECHNICAL LEVELS

Major Resistance:$200

Major Support:$100

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