ZCash, one of the top currencies ranked as the 20th-biggest crypto by its market cap of over 691 million dollars seems to be dropping against the fiat in a newly established bear trend on August 30th, going down by -3%.
However, ZCash gained momentum despite the market drops due to the fact that Bittrex just announced opening the US market for ZEC as well as Cardano (ADA), which is currently ranked as the 9th best currency in the market.
While the most recently added trading pair is most surely set to contribute to the trading volume of ZCash, the team behind ZEC has announced that Sapling is ready for release.
ZCash Announces Sapling as Ready for Activation
In one of the most recent announcements released by the team representatives of ZCash, it was stated that Sapling is marked as ready to be activated. Sapling represents the next development stage for ZCash network and is set to be officially released for the community on October 28th of the current year.
The team further stated that they are planning on additionally completing documentation and system outreach so that everything is in order by the scheduled date of release. This long-awaited update to the network actually represents two years of work conducted by the dev team, thus making a very important change for ZCash.
The protocol has been redesigned for Sapling during those two years in order to establish a more efficient ecosystem regarding encrypted transactions and the way they are functioning.
Another important change introduced with Sapling reflects on the fact that the current ZCash network has transparent addresses much like the original chain, Bitcoin, which doesn’t contribute to the privacy of parties.
That is why Sapling will introduce a massive change that should lead to having shielded addresses for ZCash in the future.
The reason why ZCash is operating with transparent addresses at the moment is the fact that the operational value of validating shielded addresses is much greater, thus more expensive, than that needed for validating transparent addresses.
However, that is about to change for ZCash.
With Sapling, ZCash will become faster through speeding up zk-SNARKS, also becoming the foundation for establishing shielded addresses for transactions.
Due to the fact that Sapling will be introducing this feature for ZEC users, ZCash will add more to its privacy, possibly making it a more attractive method of transacting and drawing in more investors as another potential “side effect”.
Even though Sapling is scheduled to be activated on October 28th of 2018, the feature of transacting with shielded addresses is to become available for ZEC users more than several months from the original release date.
Bittrex Adds USD Pair for ZCash and Cardano
What might add to the value of ZEC in the following period is the case of having one of the largest exchanges by trading volume adding a new trading pair, the US dollar.
Bittrex exchange added both ZEC and ADA, which are now available for trading with USD.
Given the fact that Bittrex makes up for one of the largest exchange markets for cryptocurrencies in the terms of having massive trading volumes, this addition might contribute ZCash and Cardano in becoming more accessible to the interested traders ready to spend their USD on investing consequently affecting the value in the market.
Moreover, this latest addition of USD trading pair for the two crypto peers indicates the trustworthiness the exchange has for ADA and ZEC, also demonstrating the legitimacy of these crypto assets.
In the long run, this addition could have a positive effect of the value of ZCash in the market, as well as the Sapling activation, however, at the current moment, the market seems to be chipping ZEC price down.
ZCash in the Market
ZCash is holding its spot among the top 20 cryptos even though the market is still eagerly showing signs of bear trends.
With the latest change in the market, ZEC has dropped by -3% against the fiat, now being traded at the price of around 147$.
Despite dropping by nearly -50% during the course of the last year, ZCash is actually showing some improvements in the period of the previous week and the last 14 days.
Pulling back from the crisis in the market at given opportunities, ZEC jumped by over 12% in the last week, also taking another 7.5% against the dollar during the last two weeks.