Cryptocurrency Q&A
Why is Zcash going down?
Why is Zcash going down?
Eleonora
Thu Nov 14 2024
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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.
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7 answers
SakuraSmile
Sat Nov 16 2024
Specifically, the amount of mining activity dropped by 80% within a short period of time.
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LightWaveMystic
Sat Nov 16 2024
This decline was due to the fact that many Zcash miners were forced to abandon their GPU miners.
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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.
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CryptoAlly
Sat Nov 16 2024
The introduction of ASICs miners to Zcash in 2018 had a significant impact on the cryptocurrency community.
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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.
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