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Price Overview for Zcash, Synthetix, Ethereum

Price overview

August 21, 2020 | 

JOHN K MWANIKI |  1 Comments| 

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Zcash, Synthetix, and Ethereum are having a great financial year. They have been on some upward spiral with several developments. 

Here is all you need to understand about the current pricing of the coins; 

Zcash 

Zcash has built its reputation on security. It looks to beat Bitcoin and other earlier coins on anonymity. It allows users to choose between transparent and private transactions. With a market capitalization of $783.4 million, the coin is currently ranked 28. 

The coin at the time of writing has a 24hr trading volume of $856.7m. Zcash is currently trading at $79. This is a relatively high value for the coin. Still, it is a slight decrease from the previous recent days. 

Zcash is popular in several exchanges. It currently retails in more than 142 exchanges. Its wideset shares are in Binance at $77.54M, OKEx $35.69M, and BKex with $40.54M. The coin is also active in over 359 active markets. Some of its highest trading pairs are USD at $12.89M, BTC with $88.80M, and USDT at 329.53M. The current transparent trading volume is around 18%. 

The total supply of Zcash will grow to $21 million. It currently has an inflation rate of 29.24%. This is one of the highest among the other cryptos. 

So far, the financial year have all been great to the coin. It still looks to an even more productive year ahead. The coin is gearing up for the halving. The halving involves reducing the rewards from holding the coin. It seeks to reduce the reward from 12.5 ZEC to 6.25 ZEC. 

The halving will happen in mid-November when the coin reaches block 1,064,400. This is the first halving the coin will be undertaking. It has, however, drawn interests from several quarters. Mostly due to the halving effects on the other cryptos. Bitcoin and its subsidiaries like the Bitcoin Cash are some to have undergone the halving.  

Bitcoin has undergone halving thrice. On all occasions, the coin has had increased market value. The same is expected for Zcash. The halving is also likely to solve the coin's inflation problem. 

The high inflation rates have been a concern to most investors. Compared to the sovereign nations, Zcash would be the eighth highest in inflation. The halving looks to be the remedy to the concerns. It will most likely reduce inflation by half. 

Zcash might end up becoming the most successful coin following a halving. It will first experience the general boost all the coins get before the event. It will then follow by a renewed investor confidence as the inflation rates are torn down. 

Ethereum 

Ethereum is having a time of its existence. The coin has had a surging run in the recent weeks to trade at around $414. The revolutionary coin has done exceptionally well to stay as the second-ranked coin in supply. It provides the best alternative asset from Bitcoin

It currently comes with a market capitalization of $46,522,071,970 and a trading volume of $11,800,672,082. These figures represent a market dominance of 12.245. The current Ethereum to Bitcoin ration is 1 BTC = 28.68ETH. It currently has 110 Million coins in supply and a maximum supply of infinity coins. 

Ethereum is available for trading in all the reputable exchanges. Most of the exchanges like it due to the high-value returns. Some of the top exchanges for Ethereum are Binance (3.32%), HitBTC (1.56%), OKEx (1.26%), and ZBG (1.11%). 

Ethereum's value is likely to go even higher, heading to the last half of the year. The 5-year-old coin has experienced a new bull run in the recent past. It has steadily grown by more than 50% within the year. One of the reasons for the increase is the resurgence of centralized finances. 

Stablecoins and their derivatives have been on a grown pattern in recent times. The DeFi is the most viable alternative investment for those looking for crypto minus volatility. Ethereum provides one of the most stable and secure operating platforms for the DEFis. There is more to come from them as they launch lending facilities. Ethereum will grow even more. 

The other important growth factor for the coin is the prospects of Ethereum 2.0. Investors have been waiting for the new, improved platform for some time. However, it has proven that it requires more work than earlier envisioned. The ETH 2.0 looks to make the coin more secure and faster. The platform slated for later in the year will keep the coin uprising. 

Synthetix

Synthetix is one of the fastest-growing cryptos. The coin was launched in March 2018 and already had some remarkable market inroads. 

The recent weeks have been exceptionally great on the coin. It has had a sustained run to trade some of its highest of $7.33 in mid-August. 

The incredible coin had first met resistance at $5.9, resetting it to $5. It, however, pulled back to reach the new heights. It is currently trading at $6.04. The coin comes with a market cap of $699,605,922. It has a market dominance of 0.18%, with a trading volume of $83,432,955. The current market supply of the coin is 120 million coins with a max supply of 198million coins. 

Synthetix is enjoying the rising tides on the DeFi coins. As most people are looking for bankless banking, DeFi has suddenly been on the rise. Coins such as Synthetix are looking to make the most out of the rise. It has so far joined with other platforms to create more liquidity for the various crypto assets. 

Bottom Line

Zcash, Synthetix, and Ethereum are on a quick run. They have been facing good runs with expected future better performance. The prospects of halving buoy Zcash. All the other coins have had good runs before and after the halving. Zcash is not any different. 

Ethereum looks to build on the surging DeFi coins. The expected ETH 2.0 also makes the coin the one to look out for. Synthetix is also building on the DeFi coins. These are coins worth checking out.

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batholomew brown
batholomew brown . I’m a bitcoin trader and the time I’m writing this blog I can’t find a single review about many bitcoin trading signal services and companies. I have lost lots of money testing them for over an year. I don’t want you to be scammed too.

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