Zcash Forks Into New Blockchain Network Dubbed As Ycash

Zcash | Ycash | Fork | Blockchain Network

Zcash (ZEC), a Privacy-focused digital currency forks into a new blockchain network dubbed Ycash, with a total supply amounts to 21 million coins, as confirmed by a tweet by the Ycash Foundation.

Ycash’s first block was mined on July 19, at 7:36:51 PM PDT. The new blockchain forked off Zcash blockchain at block height 570,000, it is   independent from both the Electric Coin Company, the firm behind Zcash, and the Zcash Foundation.

Initially announced in April by Ycash team member Howard Loo, who elaborated over the launch of the first friendly fork of the Zcash blockchain in a forum post. Per the post, the Ycash project is set to “restore a goal — mining on commodity hardware — that appears to have been largely abandoned on the Zcash blockchain.”

The Ycash team explains in a post published on its official website that  is built upon the Zcash codebase, sharing a blockchain history similar to Zcash’s. Therby, every user in control of Zcash private keys as of block height 570,000 could employ said private keys to access the same number of Ycash.

As per the post, 90% of the total 21 million Ycash coins are distributed through the mining process. Though 5% of the coins starting at block height 570,000 are going to the Ycash Development Fund, managed by the Ycash Foundation. The Electric Coin Company announced about the new scalable Zcash blockchain in late June. 

Reportedly, considering to implement sharding, a scalability solution that Ethereum devs also plan to integrate into that network in the near future.

Read more: Alternative Ways You Can Use Bitcoin As Payment

Image Source – Luxor Tech Medium 

Cryptocurrency Market Update

Bitcoin Price Analysis – Will BTCUSD Resume Its Bullish Trend

Bitcoin Cash Technical Analysis – BCHUSD In A Bullish Momentum

Ethereum Price Analysis – Is ETHUSD Further Recovery In Sight?

 

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Bitcoin Cash Technical Analysis – BCHUSD In A Bullish Momentum

Bitcoin Cash price is in the oversold region of the daily stochastic but above the 20% range. This indicates that the BCHUSD pair is in a bullish momentum and buy signal.

Bitcoin Cash Price Technical Analysis

Bitcoin Cash price analysis

BCHUSD Price Chart

Bitcoin Cash (BCH) price was yesterday, July 18, in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). BCH price had been on a downward correction after the bulls met resistance at the $480 price level on June 27.

The first downward correction was below the EMAs while above the $400 price level on June 27. Bitcoin Cash price continues its range-bound movement below the EMAs and above the $400 price level until the bulls met resistance on July 10. The price of Bitcoin Cash dropped to the support of $280 price level and commenced a range-bound movement below the EMAs.

After the range-bound movement, the price of BCH is likely to decline or break above the EMAs. In the meantime, the BCH price is in the oversold region of the daily stochastic while above the 20% range. This is an indication that BCH price is in a bullish momentum and buy signal.

BCHUSD Price Short-term Analysis

BCHUSD Technical Analysis

BCHUSD Price Chart

As the 1-hour chart shows, BCHUSD price is in a bullish trend. The 12 and 26-day EMA are sloping southwardly suggesting that the price is declining. BCHUSD price dropped to the $270 support level and commenced a bullish move above the EMAs.In the meantime, the price of BCHUSD is in the overbought region of the daily stochastic but above the 80% range, which is an indication that the price is in a bullish momentum and buy signal.

  • Resistance Levels: $480, $500, $520
  • Support Levels: $300, $290, $280

Disclaimer

Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.

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Ethereum Price Analysis – Is ETHUSD Further Recovery In Sight?

Ethereum price is trading above $200 level as the bears have temporarily suspended the downward trend. Is further recovery in sight for the ETHUSD pair? Gain insight into the following technical analysis.

Ethereum Price Technical Analysis

Ethereum price analysis

ETHUSD Price Chart

Ethereum (ETH) price was in a bullish trend yesterday, July 18.  The bears temporarily suspended the downward trend as the bulls gained control of price at the $200 support level. On the upside, if the $200 support level is holding and Ethereum price will rise to break above the Exponential Moving Averages (EMAs) and retest the $320 and $340 resistance levels.

On the downside, if the $200 support level is broken the price of Ethereum will drop to the low of $150 or $175 price level. The Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which is an indication of a sell signal.

ETHUSD Price Short-term Analysis

ETHUSD technical analysis

ETHUSD Price Chart

Looking at the 1-hour chart, ETHUSD price is in a bullish trend. On July 16, the price of ETHUSD dropped to the low of $196 and commenced a range bound movement below the EMAs. The bulls broke above the EMAs and resumed a bullish trend. ETH price is making a series of higher highs and higher lows.

A trend line has been drawn to ascertain how long the bullish trend will continue. A bullish trend is said to be ongoing if the trend line remains unbroken. A bullish trend is terminated if the price breaks the trend line and another candlestick closes on the opposite of it. The MACD line and the signal line are above the zero line, indicating a buy signal.

  • Resistance Levels: $280, $300, $280
  • Support Levels: $200, $180, $160

Disclaimer

Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.

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