One of the latest anonymous cryptocurrencies to hit the crypto market, ZenCash (ZEN), has today surged over 40% to $8.88, after twice falling short of $9 in recent hours.
ZenCash was launched in May 2017 as a fork from zClassic that uses Zcash's popular zk-SNARKS transaction shielding. Yesterday news broke of ZEN's partnership with Welto, an application that allows users to directly pay bills through their cryptocurrency wallets.
This is clearly well suiting for the cryptocurrency that describes itself to be world's first private, distributed, and reliable platform for communications, transactions, and publishing.
Additionally to Welto, ZenCash just two weeks ago announced it's partnership with StormX, the blockchain adtech and micro-task company previously known as CakeCodes. This led prices in the following days to over $9.
After a new low of $5.50 this week the key resistance levels around $9.25 will prove difficult to overcome, established just two weeks ago after the StormX announcement. A close above these levels would likely lead the currency back into double figures.
The young and volatile currency is now approaching the $20m market capitalization mark, positioning itself as the 156th largest cryptocurrency, as one of the most promising privacy based investments on the market.