Zcash Price(ZEC)

The Zcash (ZEC) blockchain is experiencing a sudden increase in size due to higher transaction volumes, prompting concerns of a potential spam attack.Jameson Lopp, co-founder and CTO of bitcoin storage company Casa, claims the Zcash blockchain has tripled in size to over 100GB in a matter of months.Somebody's having fun spamming the zcash blockchain and tripling its size to over 100 GB. Rough estimate is that this attack is costing them ~$10 a day in transaction fees. pic.twitter.com/D8EB1niju3— Jameson Lopp (@lopp) October 5, 2022 The Electric Coin Company (ECC), the organization behind Zcash, issued a statement on Twitter addressing the concerns and assured users that Zcash was functioning normally.ECC has been monitoring the increase in the Zcash blockchain size due to recent higher transaction volumes.— Electric Coin Co. (@ElectricCoinCo) October 6, 2022 “The vast majority of Zcash users are unaffected by the increased size of the blockchain, but users of shielded wallets are reporting slower than normal sync times due to a high volume of transactions with a high number of outputs. While Zcash is functioning as designed, the ECC engineering team is focused on improving performance,” the statement read.The price of ZEC is holding steady, trading at $55.29 at the time of publication.

The Zcash Foundation announced via Twitter on Monday that its conference called ZCON3 will be held in person, at the Palms Casino Resort in Las Vegas. The event will take place from August 7-9, 2022. However, it will also have a virtual component for those interested in joining virtually. ZCash is a Proof-of-Work (PoW) cryptocurrency designed to address some of the inherent flaws of Bitcoin, e.g., lack of fungibility. ZEC is trading at $156.2 per coin, up by 15% in the last 24 hours.Source: Twitter

The global cryptocurrency market cap now stands at $1.72T, down by -1.76% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $37,162 and $39,550 over the past 24 hours. As of 04:00 PM (UTC) today, BTC is trading at $38,661, down by -1.14%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include AERGO, KNC, and ZEC, up by 25%, 20%, and 15%, respectively.Top stories of the day:Adobe's Behance integrates Solana NFTsBehance, Adobe’s social media platform for creatives, announced on Monday that users with a Phantom wallet can now showcase their Solana (SOL) non-fungible tokens (NFTs) on their profiles.NFT start up Immutable raises $200M to develop blockchain gaming Non-fungible token (NFT) startup Immutable has become the latest to conclude a massive round of funding to develop its layer-2 scaling platform and blockchain games.Biden planning to sign executive order on crypto this week: Reports According to reports from Bloomberg and Reuters, President Joe Biden is set to sign an executive order this week summarizing the U.S. government’s strategy for dealing with cryptocurrencies.Nagax, the crypto trading platform of German Fintech Naga, set to launch German fintech Naga (N4G), which offers investment in stocks and crypto via its mobile app, said the crypto trading platform it announced in January will start operating March 7.Crypto-fund inflows tripled last week to highest in almost three months A net $127 million went into digital-asset funds during the week ended March 4, with minor outflows in Europe and large inflows in the Americas.Fantom FTM's loss eases as Foundation soothes investor concerns Fantom ecosystem tokens and value locked on DeFi protocols have fallen in the past 24 hours.Market movers:ETH: $2562.19 (-2.17%)BNB: $384.1 (+0.52%)XRP: $0.7237 (-3.09%)LUNA: $81.6 (-1.34%)ADA: $0.799 (-4.77%)SOL: $82.69 (-2.91%)AVAX: $72.39 (-3.70%)DOT: $16.82 (-0.59%)DOGE: $0.1167 (-3.79%)SHIB: $0.00002305 (-2.21%)Top gainers on Binance:AERGO/BUSD (+25%)KNC/BUSD (+20%)ZEC/BUSD (+15%)