Zcash Prices Are Finally Beginning to Show Some Stability

NEWS
Charles Bovaird
Dec 1, 2016 at 12:30 UTC  |  Updated  Dec 1, 2016 at 13:27 UTC

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The price of Zcash is beginning to show (relative) stability.

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

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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