Dont know what is it, or is it just an itch, but im feeling bullish😎
Buy yourself a back scratcher because I feel like we’re about to fall off a cliff
Sounds just like the crypto world. How perfect lol…
Waterbear would be a good one for Bitcoin, how many times has that died now?(but didnt)
nothing to see here. this will be back to 0.014XXX by midnight
sell volume is also considered volume.
the thing i’m interested in is that volume is over 1/2 our market cap. are you shorting ZEC?
What does that imply? Maybe wash trading? I’m out of position and wait for a decisive movement the next weeks
have several theories. probably some wash trading. the wash trading that i think could be around 15-20% of total volume serves a purpose, tho. think a lot of that wash trading is probably an alpha market maker painting the tape more than exchanges wash trading to inflate volume. this tells me there’s a very large entity(s) interested in accumulating zcash. seems like the entity has been doing this to zcash since 2017. really becomes obvious when ZEC’s volume is doing well naturally. being said, volume/market cap is still pretty incredible when subtracting (maybe) 15-20% of ZEC wash trading. that’s what i’m thinking! not sure i’ve ever traded a market where most of the volume is marketcap so it’s hard to make comparisons. maybe an IPO if the IPO was available on an open market, and not restricted to accredited investors.
TL;DR - bullish
If you look at most coins/tokens, they only gather a fraction of their “market cap” (a questionable metric I know) as their daily volume, usually less than 10%. What is most surprising to me, is how the daily volume of ZEC is almost always a large share of the total market cap - usually ~30% but sometimes it spikes even as far as 50%. Now, this could be wash trading, but I don’t see the point. There are better pairings with lower liquidity and listed on less regulated exchanges to manipulate. I just created a thread on ZCash and black markets. I would be interested in investigating the market penetration of ZEC in this area. I think it’s really under-rated. There is an enormous amount of value that goes into these markets daily and this could be a steady buy pressure to support ZCash’s price (which matters because that’s what is spearheading adoption and it measures how well it does against USD).
For me USD says nothing, I am not from America.
I rather see it gain against Bitcoin.
And I say it here again, that is not the kind of adoption we would like to see, if Zcash becomes the Nr1 coin on the blackmarkets, Zcash is doomed.
Don’t feel like posting the old shit about this again, but for most goverments Zcash and Monero will be the coins that get crakced down the first, just because of their excelent privacy. Just google Japan and Zcash.
When this happenend ,a lot of my friends and I looked into it, because if the coin gets blacklisted, we would end up with nothing.
what kept us mining was the fact Zcash got on Kraken and was atleast approved, if that wasn’t the case, I would have gone mining something else. ( most exchanges don’t even use Z adres, they aren’t allowed )
Keep in mind that Japan is a big player in the Chrypto sphere
And this is intresting too
Every price speculation topic drops back into mining. Just look at the “official” speculation thread which isn’t even talking about the price most of the time. Which is why believe this has more room to drop. Simply because mining and direct selling is the main reason every small attempt to pump the price is beat down to all time low territory. I’m officially short now. If you hover around support too long its bound to break.
I’am investigating and researching the ZEC volume issue for some time now. Beside washtrading someone can truely come to the conclusion that there is a lot of pure fake volume as well.
Let’s take some ZEC numbers:
Volume due coinmarketcap: $255,330,814 USD last 24 hours.
Tx volume due onchainfx: ~$21,000,000 USD last 24 hours
adjusted TX volume due onchainfx: $9,000,000 USD last 24 hours
Compared to BTC numbers:
Volume due coinmarketcap: $5,667,500,827 USD last 24 hours
Tx volume due onchainfx: $2,487,460,410 USD last 24 hours
adjusted TX volume due onchainfx: $1,381,074,287 USD last 24 hours
Having in mind that BTC has as well big issues with inflated/faked/washtrading volume we see it’s percentual less than ours on ZEC.
I personally stopped taking volume numbers taken as provided as it’s more than obvious something is badly wrong there. A very accurate way in my opinion is to use the TX (transaction) volume value that really happens for each coin. This seems to be a more promising approach than taken the provided volume value by some sites as given and true.
While the transaction volume still could contain washtrading numbers at least it excludes non excisting fake volume.
Once the new wallet gets out the shielded tx volume could be more interesting, no way to tell if someone buys coffee or an aircraft carrier however the overall trend should go up (hopefully lots).
Then its time to get as much cheap zec as possible😎