On the daily chart, we can see that in July of this year, the price of ZCash reached a significant support level at $83.83. Furthermore, the coin just succeeded in rising beyond the crucial resistance level of $175, which was its highest point on September 5.
The 25-day and 50-day moving averages of the ZEC price have also been crossed. Typically, this is viewed as advantageous for a cryptocurrency and other assets. Additionally, it is near the Fibonacci retracement level of 50%. Therefore, it is expected that the price of ZCash will increase as bulls aim for the next significant resistance level at $300.
Zcash Price Prediction: The current Price
Zcash Price Today in India is ₹ 4,533.03 with a 24-hour trading volume of ₹5,17,55,32,542. In the last 24 hours, ZEC-INR price has decreased by -1.52%. Zcash CoinMarketCap rank is 65. The circulation supply of Zcash is 1,26,19,318.7009462ZEC coins, with maximum circulating supply being unlimited.
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Latest news on Zcash in India July 2022
Zcash-Shielded Assets Are Being Examined by ECC
In order to better serve the goal and ZEC users, ECC is committed to supporting Zcash-Shielded Assets by cooperating with the community on their technical initiatives.
ECC has been investigating the implementation of Zcash UDAs (“User-Defined Assets”) to permit the production of Zcash-“wrapped” tokens for some time.
For greater clarity, they propose using the term “Zcash-Shielded Assets,” or “ZSAs,” in place of “UDA.” Examples of Zcash-Shielded Assets include Zcash-Shielded Ethereum, Zcash-Shielded Bitcoin, and Zcash-Shielded USDC. Additionally, Zcash-Shielded NFTs, DAOs, and other cutting-edge use cases might be included.
The advantages of an economically extendable Zcash protocol made available by ZSAs thrill them. They are investigating how this could be done while simultaneously advancing their mission in the long run.
Software and protocol security audits should be carried out, as with any significant Zcash network upgrade. ECC and other Zcash community members may also push for scientific peer evaluation of novel cryptography as well as economic study to assess the potential effects of any changes to the economy.
Zcash economics may be impacted by ZSAs, hence ECC is researching decentralised markets with numerous assets on the Zcash blockchain. To help with this research, They have hired the Computational Experimental Economics Lab at George Mason University, which is run by Professor Kevin McCabe. Their overarching objective is to create an economic framework that is compatible with Zcash’s viability and has a beneficial overall impact on the state of cryptoeconomics today.
ZSAs ought to be implemented in a fashion that benefits both ZEC owners and the general public.