Zcash Market Report: ZEC/USDT Launches: Down -51.86% on the Day

Brief:


Zcash is down -51.86% on the day on a last price of $404.85. ZEC/USDT is trading between a 24hr high of $1711.10 and a 24hr low of $404.85 on a 24hr volume of 14,602 USDT or 16.5 ZEC. The all time trend is mixed.

Last price

404.85 ZEC/USDT

$USD

last price $ 404.85
24 hours ago $ 841.00
percentage -51.86%

Volume

Volume

The 24 hour volume on Poloniex is 14602.97760750 USDT or 16.52976358 ZEC.

Remarks

The much heralded Zcash has launched for trading on a number of exchanges. The opening price was USDT$9,000 per Zcash on Poloniex. While the price is fluctuating strongly we are seeing a prominent downtrend from the opening high. The closing price at press time was the daily low – with a new fat red candle forming.

Notwithstanding the launch overpricing of the digital asset, traders recognize that Zcash could have very real advantages over other altcoins.

About
“Zcash is the first open, permissionless financial system employing zero-knowledge security.”

What is Zcash?
“If Bitcoin is like http for money, Zcash is https. Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions can be shielded to hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Zcash transactions do not depend on the cooperation of other parties.”

Website
https://z.cash/

Forum
https://forum.z.cash/

Price change

Price change is the percentage change within the period:

period change
day -51.86%

Chart

Tap or click chart to enlarge:

chart-zec-usdt-poloniex-2days-30minutes-2016-10-30

The 2 day 30 minute candlestick chart above shows most of the ZEC history on Poloniex. Other exchanges launched earlier.

Data source

Poloniex is the data source for this market report.

Market capitalization

Market capitalization is the total $US dollar value of the Zcash market calculated using the formula:

market cap = ( available supply x last price )
Market cap Available supply Last price
$ 445,335 1100 $ 404.85

Daily High Low

daily high 1711.10
daily low 404.85

Trend

The weekly trend is mixed.

trend is MIXED

Support

Support is the lowest price within the period:

period support
day 404.85
all time 404.85

Resistance

Resistance is the highest price within the period:

period resistance
day 1711.10
all time 9000.00

Margin trading

no

The data source Poloniex does NOT offer margin trading on this digital asset.

Market sentiment

Market sentiment is bearish.

sentiment bearish

Image courtesy Pixabay.com

Summary

Zcash is down -51.86% on the day and down from $9,000.00 on launch. The two day and all time trend is mixed. ZEC/USDT saw daily and all time support at 404.85, with a daily high of $1711.10 per Zcash. The market has seen a pronounced downtrend since launch. Market sentiment is bearish.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Monday October 31 2016 02:48 hours UTC. Contact KittyBitcoin to request custom reports.

Coming soon

Thanks for reading! 🙂

Tags

Zcash, ZEC/USDT, Poloniex, Brief, Last price, Volume, Remarks, Price change, Chart, Data source, Market capitalization, Indicators, Daily high low, Trend, Support, Margin trading, Resistance, Range, Market sentiment, Summary, Disclaimer, Printed, Coming soon, cryptocurrency, bitcoins, BTC, altcoins, investing, trading, speculation, coins, investment, digital, assets, tags

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