Since the infamous cryptocurrency crash at the start of the year ZCoin has ploughed through a trajectory of loss after loss after loss.
It closed 2017 valued at around $159 before entering a slippery slope, barely reaching $31 as valued today (29/03/2018).
Its decline has followed the trend of many of the major cryptocurrencies over the last few months, though any pessimistic feelings you have towards ZCoin, or any of the other currencies for that matter, should be discarded.
The past month has seen ZCoins decline start to tail off, after only losing miniscule amounts of value through recent days, does this mean that ZCoin could be about to start climbing properly for the first time in a few months?
If you look at it’s trajectory, there are some peaks over the last few weeks, but these climbs have been relatively short lived. This recent balancing of the coins path suggests that actually the value of the coin is about to climb.
I’m not saying that it’s going to shoot up in the next week, but I am saying that there is a chance that the coin could start to climb, slowly over the next few days, if it does then it will certainly start to rack up some value.
It’s important to consider ZCoins roadmap here, where to they intend to take this currency? Their next moves are obviously going to determine how the coins value increases, or indeed, decreases.
This month saw the release of ‘French Drop’ ZCoins own alternate wallet, I believe this is what encouraged the slight peak in ZCoins value at the start of March. With that, ZCoin do intend to establish some other news works, for example more encrypted communication between node peers, more scalability research into what ZCoin could achieve and also Ethereum port/inter-ledger connectivity. All of these projects will contribute to how the currency is valued over the next few months.
2019 also lays out many ambitions for the ZCoin team, including ideas to set up blind auction systems, decentralised voting systems and the implementation of a blockchain scalability solution.
In short, despite it’s recent path, the ZCoin team look to be cracking on with progressing the currency. The volatility of the markets has obviously had an impact on them but, through their commitment to growing the product, I’d like to think that this is one to watch.
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