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Zcash Prices Are Finally Beginning to Show Some Stability
Zcash (ZEC) price movements enjoyed relative stability on 30th November, contrasting with its volatile early history.
The price of Zcash is beginning to show (relative) stability.
STORY CONTINUES BELOW
Despite the sharp volatility it has repeatedly experienced since going live on 28th October, movements calmed yesterday, providing the privacy-oriented digital currency with uncharacteristically modest price fluctuations.
Opening the session at $68.72, ZEC climbed as much as 6% to reach $72.94 during the day, CoinMarketCap data reveals. The digital currency later gave up these gains, declining to roughly $68.68 by 20:50 UTC, 5.8% lower than the daily high and roughly on par with the opening price.
The digital currency experienced these relatively modest price fluctuations amid light volume. (ZEC's 24-hour volume hit $1.28m at points, CoinMarketCap figures show).
This figure compares to daily volume of $4.8m and $3.53m on 1st and 25th November, respectively.
The relative calm is serving as a contrast to the wild fluctuations seen in late October when it surged to roughly 3,300 BTC (more than $2 million) on Poloniex and declined to 1 BTC, all within the span of just a few weeks of trading.
For more on Zcash, read our latest feature on the protocol.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an investment stake in the startup supporting Zcash's open-source development.
Zen stone image via Shutterstock
Charles Lloyd Bovaird II
Charles Lloyd Bovaird II is a financial writer and editor with strong knowledge of asset markets and investing concepts. He has worked for financial institutions including State Street, Moody's Analytics and Citizens Commercial Banking. An author of over 1,000 publications, his work has appeared in Forbes, Fortune, Business Insider, Washington Post, Investopedia and elsewhere. An advocate of financial literacy, Charles created all the industrial finance training for a company with more than 300 people and spoke at industry events across the world. In addition, he delivered speeches on financial literacy for Mensa and Boston Rotaract.
