Zcash (ZEC) On November 18, Zcash had its halving, which was | Crypto Great | Bitcoin | DeFi

Zcash (ZEC)

On November 18, Zcash had its halving, which was the catalyst we highlighted in our original Catch-Up Portfolio Report. The amount of new Zcash minted per block is now down from6.25 to 3.125.

We witnessed a similar event with bitcoin earlier this year in May. The event results in less supply entering the market, and over time, this creates an upward pressure in price. It’s partof the reason bitcoin is hitting new highs right now. We expect the same to unfold with ZEC in the coming months.

On the same day as the ZEC halving, the network also had an upgrade called Canopy. It will allocate part of the block rewards to fund platform development. This means Zcash will continue to have dedicated teams of researchers and developers improving the network.

Canopy also had upgrades centered around security and performance. Together, these events create a foundation for ZEC’s price to take a substantial leap in the coming year.