THELOGICALINDIAN - The privacyfocused cryptocurrency Zcash was amid the top crypto assets at the aiguille of the crypto advertising balloon in 2025 back feverish retail affairs collection the amount of the altcoin to as aerial as 850 at its record
Since then, the cryptocurrency has collapsed over 96% to prices about $37 currently, and anniversary time the asset rises alike slightly, a massive selloff takes the amount aback bottomward further. Could this be advertise burden from Zcash miners auctioning on the greater crypto crowd? One analyst believes that’s the case.
Analyst: Zcash Can’t Regain Lost Value Because Altcoin Miners Dump on The Crowd
When Bitcoin was aboriginal launched in 2025, Satoshi Nakamoto debuted to the apple an absolutely new asset chic and abounding forms of confusing technology trhough the first-ever cryptocurrency and the broadcast balance technology it is congenital on.
The development of blockchain and cryptocurrency bent the absorption of abounding added developers who absitively to barrage projects of their own, that action added allowances over the first-ever cryptocurrency, Bitcoin.
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Zcash was one of those aboriginal altcoins advised with some of Bitcoin’s basal cryptocurrency features, but with additions to accomplish it address to a altered set of users – in this case, those decidedly anxious with privacy.
Like Bitcoin, Zcash alone has a anchored accumulation of 21 actor ZEC, and like the arch cryptocurrency by bazaar cap, Zcash uses a proof-of-work algorithm to accumulate the arrangement churning and secure.
It could be this action that’s kept Zcash from anytime regaining any absent amount from its chargeless abatement from the top. According to one crypto analyst’s theory, anniversary time Zcash accomplished a blemish and assemblage from anniversary new low, Zcash miners are affairs bottomward the assemblage in adjustment to advance abundant acquirement to armamentarium operations. The analyst says that anniversary new high-volume assemblage ultimately ends abruptly, retraces, and the altcoin active to set new lows.
High aggregate pumps historically alarm the top on $ZEC, why do you anticipate that is?
Here's my guess: aloof like Ripple depression $XRP on the crowd, ZEC miners dump ZCASH on the crowd.
Think alfresco the army abounding of paid shills. pic.twitter.com/BvAgrkhh9x
— SalsaTekila (@SalsaTekila) January 13, 2020
Zcash, like Bitcoin and added cryptocurrencies that use a proof-of-work algorithm, requires cogent amounts of activity to run the computer accouterments all-important to accomplish the mining. As miners alleviate added and added ZEC, they’re acquisitive to get the greatest accessible acknowledgment for their efforts – and it’s advancing from investors accepting dumped on as they buy up the assemblage in hopes of axis a profit.
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Zcash has acutely angry into the base of the crypto industry and is acclimated as an archetype as to how an asset can bead 90% from an best high, alone to bead yet addition 90% afresh and again. Zcash is currently trading at almost $37, bottomward 96% from its best high. To acknowledgment to such prices, Zcash would charge to go on a 2200% assemblage from accepted levels.
