Privacy coins appear to be having their day today, with Zcash and Monero pulling away from the rest of the market with 6.76% and 4.42% gains respectively against US dollar trading pair.
After a shaky start to the month where ZEC suddenly flash crashed to $15.60 (-69.00%) on March 4, the asset has gone on to recover well and break back over a key psychological level at $60. Trading volume has seen a marked increase over the last 48hrs, spiking from $180 Million to its current level at $245 Million as bullish momentum continues to build.
On March 19 Bitmain announced the release of their new Equihash Antminer Z11 - an ASIC mining rig that the company claims is 3x more powerful than the earlier Z9 model released only 9 months ago. This new equipment will directly compete with the ZCash GPU mining community for block rewards, and give Z11 owners a huge 135K Sol/s hashing advantage.
In other news, the Zcash company decided to rename itself the ‘Electric Coin Company’ last month in a bid to realign wit...