Tricky Zcash. On the edge of private and legal transactions.

Coin of the day is Zcash.
Zcash is one of the privacy-oriented coins forked from the Bitcoin Core, with its unique vision of selective transparency of transactions. The founder and CEO of Zcash Company is Zooko Wilcox-O'Hearn. Its founding team includes cryptographer Matthew D. Green from Johns Hopkins University. Roger Ver was one of Zcash Company's initial investors. Zcash release date is 28 October 2016. Like Bitcoin, Zcash has a total fixed supply of 21 million units. In the first four years, 20% of the coins created in that period are allocated to a "founders' reward" shared between investors, developers, and a non-profit foundation, such way of reward caused an ambiguous reaction and criticism of the community.

What differs the concept of Zcash from other privacy-oriented coins is that Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. "Transactions are auditable, but disclosure is under the participant's control." Wilcox has hosted virtual meetings with law enforcement agencies around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity". It is likely that this vision made it possible to consider listing Zcash on the Gemini exchange.

May 19 - Listing on Gemini. Tyler Winklevoss, CEO of Gemini, commented on Monday: “We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell and store Zcash, an incredible new form of digital cash.”

June 25 - Overwinter is the first ever network upgrade of Zcash done through a hard fork at the block number 347500 which is expected to be on 25 June 2018. A new feature will be introduced that allows users to set transaction expiry times.

Technicals
ZECBTC had bottomed at the end of 2017 but stayed in the lateral pattern until 2018.05.14 when Gemini announced the listing of the Zcash, which pushed the coin upward with a great increase in volumes. Zcash broke above 100-days EMA and important resistance level 0.04. Regarding almost a 50% growth the coin stays in the lower zone relative to its all-time peak at the 0.17 BTC, which leaves a lot of space for growth. Support for the bullish scenario is 0.035 - 0.04 zone, breakthrough below this zone will change the scenario to further lateral movement or even downtrend. Local resistance 0.045 should be pierced in near-term and forward the price to the 0.05 psychological level.