As the bid for privacy and fungibility on Bitcoin goes stronger, privacy-centric cryptocurrencies like Zcash [ZEC] and Dash [Dash] seem to be in a bull trend.
Blockstream recently revealed the PayJoin (also called P2EP Pay to endpoint) transactions which will add privacy for the sender and receiver of a BTC transaction. Samson Mow, the CSO of Blockstream told the media,
Without privacy and fungibility, money can be used as a tool for oppression or financial surveillance. Bitcoin is the future of money and the future of money shouldn’t be Orwellian.
A couple of wallet providers and BTC payment servers are getting onboard P2EP. Mow tweeted recently,
It’s time for financial privacy. @sideshiftai now supports #P2EP shifts. It’s amazing what happens when we work together for a common goal!
Dash ‘Halving’ This Week
Dash offers optional privacy solution, PrivateSend, which can be activated by the buyer. Similarly, Zcash also offers optional privacy with two sets of addresses, private (z-addresses) or transparent (t-addresses).
Moreover, Dash investors are also looking forward to a ‘halving’ scenario, which will reduce rewards on the generation of Dash. The Dash mining rewards to the masternodes will reduce by 7.14% on 27th March 2020. The current #Dash 1.55331344 masternode/miner minimum reward will reduce to 1.44236248.
On a daily scale, the price is trading facing resistance from the 50-Day EMA (Exponential Moving Average) at $82.
Zcash also in a Bullish MS
Gaining around 90% since the drop in March Zcash is leading the recovery among privacy-focused coin, followed by Dash and Monero.
Zcash has been in a bullish market structure since the fall in March. On a daily scale, the price has broken above the moving averages and will look to break above from resistance around $52. The support levels will be at $44 and $39-40.
Do you think there is more upside to these privacy protocols? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com