Zetacoin Sets New One-Month Low
After a slight recovery over the weekend, Zetacoin (ZET) continued its slide vs BTC on Cryptsy. It ploughed a fresh 1 month low of 0.026 mBTC ($0.023) on Cryptsy today. Like , Zetacoin entered the year on a high, only to crash by nearly 50% in a matter of days.
Its weekend recovery saw it gain close to 10%, only to resume its slide thereafter down to its current low.
The price of ZET had shown some signs of stabilizing around 0.03 mBTC with a solid support level of 0.027 mBTC, but today's new low and recent days' bearish pattern suggest the cryptocurrency has further to fall, albeit after a possible slight recovery over the weekend.
ZET maintained its highest historical levels during the second week of December, where it held on to its 0.1 mBTC ($0.09) level for nearly 1 week.
Like many Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins can be different from the Bitcoin network in any number of ways. This is often the primary reason for the existence of altcoins themselves.Why Do So Many Altcoins Exist?While Bitcoin is both innovative and massively influential, it does possess some problems that developers are trying to fix with their own products. Over time there have been developed altcoins that makes faster transactions, while also altcoins that are less volatile, or altcoins that are more private, etc.Altcoins also can have different economic models and their methods of distribution can be different. Moreover, their programming languages can be different, and they can support the development of different kinds of applications. While many altcoins have been built with amazing technology and have amazing potential to change the world, many of them have been created as methods of grabbing quick cash, or even as jokes.However, some of the joke altcoins have still managed to gather a significant number of users and followers. The most prominent example of this trend is DogeCoin, a cryptocurrency inspired by the Doge meme. Additionally, other joke altcoins have also experienced large market cap, such as JesusCoin. Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins can be different from the Bitcoin network in any number of ways. This is often the primary reason for the existence of altcoins themselves.Why Do So Many Altcoins Exist?While Bitcoin is both innovative and massively influential, it does possess some problems that developers are trying to fix with their own products. Over time there have been developed altcoins that makes faster transactions, while also altcoins that are less volatile, or altcoins that are more private, etc.Altcoins also can have different economic models and their methods of distribution can be different. Moreover, their programming languages can be different, and they can support the development of different kinds of applications. While many altcoins have been built with amazing technology and have amazing potential to change the world, many of them have been created as methods of grabbing quick cash, or even as jokes.However, some of the joke altcoins have still managed to gather a significant number of users and followers. The most prominent example of this trend is DogeCoin, a cryptocurrency inspired by the Doge meme. Additionally, other joke altcoins have also experienced large market cap, such as JesusCoin. Read this Term, Zetacoin showcases its advantage over BTC in faster transaction confirmations and lesser Mining Difficulty Mining Difficulty Mining difficulty is measure of how difficult it is to find a hash below a given target. For example, the Bitcoin network, or another Proof-of-Work (PoW) crypto network, has a global block difficulty. Valid blocks must have a hash below a specific target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.Looking at the Bitcoin network specifically, mining difficulty is designed to adjust every 2016 blocks, or approximately every two weeks. This adjustment is dictated by changes in the network’s hashrate and occurs regularly. Such changes constitute an attempt to ensure that the network continues to solve new blocks at a rate of one every 10 minutes.What Determines Mining Difficulty?Mining difficulty is determined by several factors, including how many miners there are on a cryptocurrency network. As difficulty increases, miners need increasingly complicated (and expensive) equipment to keep up.If the hashrate during the past two weeks has increased, then this surmises that the difficulty will go up as well, making mining more challenging. However, if the hashrate has dropped, the difficulty level will decrease, making blocks easier to solve. This scenario is extremely uncommon.There is no maximum mining difficulty for the Bitcoin network. If use of the Bitcoin network continues to increase, the mining difficulty of the Bitcoin network could also increase until all Bitcoins are mined.Eventually, a situation can occur in which a relatively large proportion of miners cannot keep up with mining constraints.Under these circumstances, miners are forced to capitulate and stop entirely. The hashrate would consequently decrease and, eventually, the difficulty would receive a downward reset. Mining difficulty is measure of how difficult it is to find a hash below a given target. For example, the Bitcoin network, or another Proof-of-Work (PoW) crypto network, has a global block difficulty. Valid blocks must have a hash below a specific target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.Looking at the Bitcoin network specifically, mining difficulty is designed to adjust every 2016 blocks, or approximately every two weeks. This adjustment is dictated by changes in the network’s hashrate and occurs regularly. Such changes constitute an attempt to ensure that the network continues to solve new blocks at a rate of one every 10 minutes.What Determines Mining Difficulty?Mining difficulty is determined by several factors, including how many miners there are on a cryptocurrency network. As difficulty increases, miners need increasingly complicated (and expensive) equipment to keep up.If the hashrate during the past two weeks has increased, then this surmises that the difficulty will go up as well, making mining more challenging. However, if the hashrate has dropped, the difficulty level will decrease, making blocks easier to solve. This scenario is extremely uncommon.There is no maximum mining difficulty for the Bitcoin network. If use of the Bitcoin network continues to increase, the mining difficulty of the Bitcoin network could also increase until all Bitcoins are mined.Eventually, a situation can occur in which a relatively large proportion of miners cannot keep up with mining constraints.Under these circumstances, miners are forced to capitulate and stop entirely. The hashrate would consequently decrease and, eventually, the difficulty would receive a downward reset. Read this Term. On forums and article comments, its vocal community often takes a form similar to those pumping pennytocks with comments to the effect of buy now while it is cheap. Whether this is intentional or the result of having a very supportive user base is up to debate. (Update: see below in the comments for a Zetacoin community member opinion. This video also provides example of the active community working on the coin. Its future potential may partially explain the exuberance expressed by those speculating that prices will fly higher.)
Zetacoin now has a market cap of approx. $3.7M.
After a slight recovery over the weekend, Zetacoin (ZET) continued its slide vs BTC on Cryptsy. It ploughed a fresh 1 month low of 0.026 mBTC ($0.023) on Cryptsy today. Like , Zetacoin entered the year on a high, only to crash by nearly 50% in a matter of days.
Its weekend recovery saw it gain close to 10%, only to resume its slide thereafter down to its current low.
The price of ZET had shown some signs of stabilizing around 0.03 mBTC with a solid support level of 0.027 mBTC, but today's new low and recent days' bearish pattern suggest the cryptocurrency has further to fall, albeit after a possible slight recovery over the weekend.
ZET maintained its highest historical levels during the second week of December, where it held on to its 0.1 mBTC ($0.09) level for nearly 1 week.
Like many Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins can be different from the Bitcoin network in any number of ways. This is often the primary reason for the existence of altcoins themselves.Why Do So Many Altcoins Exist?While Bitcoin is both innovative and massively influential, it does possess some problems that developers are trying to fix with their own products. Over time there have been developed altcoins that makes faster transactions, while also altcoins that are less volatile, or altcoins that are more private, etc.Altcoins also can have different economic models and their methods of distribution can be different. Moreover, their programming languages can be different, and they can support the development of different kinds of applications. While many altcoins have been built with amazing technology and have amazing potential to change the world, many of them have been created as methods of grabbing quick cash, or even as jokes.However, some of the joke altcoins have still managed to gather a significant number of users and followers. The most prominent example of this trend is DogeCoin, a cryptocurrency inspired by the Doge meme. Additionally, other joke altcoins have also experienced large market cap, such as JesusCoin. Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins can be different from the Bitcoin network in any number of ways. This is often the primary reason for the existence of altcoins themselves.Why Do So Many Altcoins Exist?While Bitcoin is both innovative and massively influential, it does possess some problems that developers are trying to fix with their own products. Over time there have been developed altcoins that makes faster transactions, while also altcoins that are less volatile, or altcoins that are more private, etc.Altcoins also can have different economic models and their methods of distribution can be different. Moreover, their programming languages can be different, and they can support the development of different kinds of applications. While many altcoins have been built with amazing technology and have amazing potential to change the world, many of them have been created as methods of grabbing quick cash, or even as jokes.However, some of the joke altcoins have still managed to gather a significant number of users and followers. The most prominent example of this trend is DogeCoin, a cryptocurrency inspired by the Doge meme. Additionally, other joke altcoins have also experienced large market cap, such as JesusCoin. Read this Term, Zetacoin showcases its advantage over BTC in faster transaction confirmations and lesser Mining Difficulty Mining Difficulty Mining difficulty is measure of how difficult it is to find a hash below a given target. For example, the Bitcoin network, or another Proof-of-Work (PoW) crypto network, has a global block difficulty. Valid blocks must have a hash below a specific target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.Looking at the Bitcoin network specifically, mining difficulty is designed to adjust every 2016 blocks, or approximately every two weeks. This adjustment is dictated by changes in the network’s hashrate and occurs regularly. Such changes constitute an attempt to ensure that the network continues to solve new blocks at a rate of one every 10 minutes.What Determines Mining Difficulty?Mining difficulty is determined by several factors, including how many miners there are on a cryptocurrency network. As difficulty increases, miners need increasingly complicated (and expensive) equipment to keep up.If the hashrate during the past two weeks has increased, then this surmises that the difficulty will go up as well, making mining more challenging. However, if the hashrate has dropped, the difficulty level will decrease, making blocks easier to solve. This scenario is extremely uncommon.There is no maximum mining difficulty for the Bitcoin network. If use of the Bitcoin network continues to increase, the mining difficulty of the Bitcoin network could also increase until all Bitcoins are mined.Eventually, a situation can occur in which a relatively large proportion of miners cannot keep up with mining constraints.Under these circumstances, miners are forced to capitulate and stop entirely. The hashrate would consequently decrease and, eventually, the difficulty would receive a downward reset. Mining difficulty is measure of how difficult it is to find a hash below a given target. For example, the Bitcoin network, or another Proof-of-Work (PoW) crypto network, has a global block difficulty. Valid blocks must have a hash below a specific target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.Looking at the Bitcoin network specifically, mining difficulty is designed to adjust every 2016 blocks, or approximately every two weeks. This adjustment is dictated by changes in the network’s hashrate and occurs regularly. Such changes constitute an attempt to ensure that the network continues to solve new blocks at a rate of one every 10 minutes.What Determines Mining Difficulty?Mining difficulty is determined by several factors, including how many miners there are on a cryptocurrency network. As difficulty increases, miners need increasingly complicated (and expensive) equipment to keep up.If the hashrate during the past two weeks has increased, then this surmises that the difficulty will go up as well, making mining more challenging. However, if the hashrate has dropped, the difficulty level will decrease, making blocks easier to solve. This scenario is extremely uncommon.There is no maximum mining difficulty for the Bitcoin network. If use of the Bitcoin network continues to increase, the mining difficulty of the Bitcoin network could also increase until all Bitcoins are mined.Eventually, a situation can occur in which a relatively large proportion of miners cannot keep up with mining constraints.Under these circumstances, miners are forced to capitulate and stop entirely. The hashrate would consequently decrease and, eventually, the difficulty would receive a downward reset. Read this Term. On forums and article comments, its vocal community often takes a form similar to those pumping pennytocks with comments to the effect of buy now while it is cheap. Whether this is intentional or the result of having a very supportive user base is up to debate. (Update: see below in the comments for a Zetacoin community member opinion. This video also provides example of the active community working on the coin. Its future potential may partially explain the exuberance expressed by those speculating that prices will fly higher.)
Zetacoin now has a market cap of approx. $3.7M.