Cryptocurrency Q&A
Why is Zcash going down?
Why is Zcash going down?
Eleonora
Thu Nov 14 2024
|
7 answers
1412
I've been observing the cryptocurrency market recently and noticed that Zcash has been experiencing a significant downward trend. I'm curious to understand the reasons behind this decline.
7 answers
SakuraSmile
Sat Nov 16 2024
Specifically, the amount of mining activity dropped by 80% within a short period of time.
Was this helpful?
175
31
LightWaveMystic
Sat Nov 16 2024
This decline was due to the fact that many Zcash miners were forced to abandon their GPU miners.
Was this helpful?
86
36
Elena
Sat Nov 16 2024
GPU miners were previously the primary means for acquiring ZEC, but they became obsolete in the face of more powerful ASICs miners.
Was this helpful?
162
73
CryptoAlly
Sat Nov 16 2024
The introduction of ASICs miners to Zcash in 2018 had a significant impact on the cryptocurrency community.
Was this helpful?
65
70
Margherita
Sat Nov 16 2024
As a result, many Zcashers were left without a viable way to mine the cryptocurrency, leading to a sharp decrease in overall activity.
Was this helpful?
258
49
Load 5 more related questions
