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09.12 - 18:26
Zcash Extends Rally After Proof-of-Stake Plan, Twitter Shills
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cryptonews.comThe privacy-focused cryptocurrency zcash (ZEC) is being noticed by traders again after a rally of more than 50% over the past week. The rally followed news from last week that the coin will switch to a proof-of-stake consensus algorithm.
At 14:27 UTC on Wednesday, ZEC was up 22.7% over the past 24 hours and 56% for the past week, trading at a price of USD 261.
Despite the strong gains in recent days, however, zcash is still far away from its 2018 high of nearly USD 800.
The coin has also ended up somewhat in the shadow of monero (XMR), another privacy-focused coin with a significantly larger market capitalization.
The gains today come after Electric Coin Company, the organization behind zcash, last week launched a new roadmap for development
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