The Merkle

ZClassic Price Surpasses $128 as Other Markets Continue to Suffer

With all of the top cryptocurrency markets suffering small to medium losses, there isn’t much to get excited about as of right now. When looking a bit further down the list, we see ZClassic making some big waves right now. Thanks to a solid 10% gain, we now have a ZClassic price of over $128.5. An interesting development, given the state all markets are in right now.

ZClassic Price is Moving up

Even though virtually everyone knows ZClassic still exists, there is very little discussion about it taking place these days This interesting altcoin has been flying under most people’s radar, by the look of things, yet it still manages to note a strong 10% gain when all major markets are losing value. As a result, we see the ZClassic price rise above $128 again, after a week of constant value declines.

More specifically, the ZClassic price almost hit $200 earlier this week. Unfortunately, that sudden uptrend was pushed back over the next few days, with the ZClassic price dropping to$175, $150, $125, and eventually almost dipping to $100. Such steep declines are not uncommon in the cryptocurrency world, as volatility remains a pressing problem for a lot of markets.

Over the past 24 hours, the ZClassic price has been subjected to a rather positive trend. It comes as a bit of a surprise given the recent losses, yet it shows there is still some life left in ZCL as of right now. Especially when considering how the Bitcoin price is going down at a somewhat alarming pace, it is all the more impressive to see this particular altcoin push back so strongly.

With just $22.6m in 24-hour trading volume, ZClassic is not the most liquid cryptocurrency market by any means. Its trading volume is a lot lower than most other currencies, but ZClassic is nowhere close to the top 25 ranked by market cap in any way.  Even so, it is showing some momentum which other altcoins and even Bitcoin cannot generate as of right now. Whether or not this trend will continue, is a different matter altogether.

For the time being, ZClassic is still traded on just a handful of exchanges. Bittrex is by far the largest in terms of trading volume, as their lead over Cryptopia is quite phenomenal. Bittrex is generating 88.77% of all ZCL trades as of right now, and it appears that situation will not change in the near future. CoinExchange completes the top three with just $372,513 in trading volume.

For the time being, it remains to be seen what the future will hold for the ZClassic price. As of right now, things look pretty solid, yet there is no reason to believe this momentum will last for several days. Even so, there may still be some further upward momentum to come. It’s not impossible to think we will see a ZClassic price of $135 later today, assuming the profit taking doesn’t affect the market in an overly negative manner.