From July to August, ZEC Surged 180%

As the first anonymous cryptocurrency utilizing zero-knowledge proof (zk-SNARK) technology, ZEC, which was born in 2016, has recently achieved great success. From July 5, 2024, to the time of writing (August 13, 2024), the price of ZEC has risen from $15.78 to $44.13, an increase of 180%, with a market capitalization of over $660 million and a circulation of more than 16 million coins.

Tyler Winklevoss, the founder of the cryptocurrency exchange Gemini, recently stated (he and his brother have been in the hot search list for donating $1.7 million worth of BTC to Trump’s campaign team) that “Zcash is one of the most important and underrated crypto projects in the world today“. His reason is that Zcash technology allows users to make anonymous transactions, bringing privacy and decentralization to the currency, which are two fundamental components of a free and open society.

The founder of ZEC, Wilcox, previously published a blog article titled “Zcash is Winning,” in which he emphasized that Zcash highly values citizens’ rights to privacy and economic freedom, and will continue to improve Zcash technology to ensure that it remains a viable and secure form of private currency under the pressure of governments around the world.

Previously, bankers from JPMorgan Chase estimated that by 2025, the price of Zcash may break through $62,000, as it could become 10% of all offshore assets.

ZEC is currently listed on well-known exchanges, and it is also a cryptocurrency that can be mined by ASIC. On July 25, 2024, Bitmain announced the launch of the ANTMINER Z15 PRO, a machine with a hash rate of 840KSol, a power consumption of 2780W, and a power efficiency ratio as low as 3.31J/KSol. It is currently the most profitable ZEC ASIC, and its profitability has surpassed that of the ANTMINER KS and ANTMINER L7.

ZEC is one of the coins that many holders are most concerned about and looking forward to appreciating. After all, ZEC once reached a peak of $372. Now that the coin price has risen by 180% from the position of $15.78, does it mean that ZEC is about to usher in a historic rebound? We will continue to pay attention and bring you news of ZEC and ZEC ASICs.

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

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