What is Zcash Worth? As Price Tops $1,000 Traders Remain Unsure

Days after the launch of Zcash, the cryptocurrency markets are still attempting to value the newly released digital currency (ZEC).
While 1 ZEC is trading at roughly twice the price of bitcoin (1 ZEC was worth 1.91 BTC, or $1,388, at press time), this means movements have calmed since tumultuous early trading sessions.
But with limited supply and high demand still propping up prices, digital currency traders largely say Zcash has a long way to go before it becomes less of a speculative investment.
Petar Zivkovkski, director of operations for leveraged bitcoin trading platform Whaleclub, described speculation as still “rampant” in the Zcash market.
As evidence, the price of Zcash declined 25% for the day’s trading, a figure that was down 200% since it traded at a high last week of 3,299 BTC/1 ZEC (nearly $2m). (Zcash block explorer Zchain suggests just under 3,000 ZEC are currently in circulation).
Trying to make sense of a market with these parameters has become a challenge, traders noted.
Digital currency analyst Kevin Zhou told CoinDesk:

This post was published at Coin Desk on November 2, 2016.

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