Zcash fork didn’t turn out to be so successful
Zcash fork didn’t turn out to be so successful
After its fork from Zcash, the much-hyped crypto didn’t actually pick up as expected. When it forked, the founder’s fee that is essential for development was dropped. We can say that the fork failed to get Zclassic going. Rather than its price picking up, it flat-lined for most of that year, eventually dropping to a low of just $2. In contrast the price of Zcash (ZEC), from which ZCL forked stayed positive and is now trading at $218 according to stats on coimmarketcap.com.
Seeing that the crypto wasn’t successful, founder Rhett Creighton proposed the forking of Zclassic and Bitcoin to create Bitcoin Private. In the immediate aftermath of that announcement, the ZCL’s price spiked, shooting to a high of $199.26. Well, that fork happened at the tail end of February this year. The sad thing is that not long after the BTCP snapshot on 28th February, ZCL plummeted from about $122 to $27 within hours.
And it has continued to tank ever since, now seemingly flat-lined again. Beginning 1st March, ZCL has dropped steadily and consistently. It was priced at $27 on the first day of March, before shedding over 50% in a week to briefly trade at $13. The plunge has continued, with the general outlook being that it will not halt soon.
It doesn’t look particularly healthy to continue thinking that long-term, Zclassic (ZCL) will surge again. The captains abandoned ship long ago and this is a sure wreck. This is the time I would get off onto the life boat.
Zcash fork didn’t turn out to be so successful
Reviewed by mir khaleq ali
on
March 30, 2018
Rating:
Reviewed by mir khaleq ali
on
March 30, 2018
Rating:
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