ShadowCash Price Ignites

Journalist:
Josiah Wilmoth @Y3llowb1ackbird
December 12, 2014

ShadowCash (formerly ShadowCoin) is the currency facet of the Shadow Project, one of many cryptocurrency efforts designed to provide users with the ability to maintain privacy in the digital world. Recently, Shadow teased the release of a new whitepaper regarding the project’s forthcoming “Zero-knowledge” system, to the delight of community members. Additionally, the ShadowCash price has surged over the past few days, capping an overall great week for the altcoin project.

Also read: ShadowCoin Lead Developer Rynomster Speaks From The Shadows

ShadowCash Price Ignites

The ShadowCash price fluctuated during the past week; nevertheless, it is trending up. On December 4, the ShadowCash price was 20,007 satoshis. It climbed over the next three days, reaching 24,970 satoshis on December 7. The ShadowCash price dropped off a bit on December 8 to 24,202 satoshis. But the ShadowCash price bounced back on December 9, just passing the 28,000 satoshis mark. The ShadowCash price declined slightly on Wednesday, reaching 27,752 satoshis at press time. In sum, the ShadowCash price rose nearly 39% during the past six days.

7-Day ShadowCash price chart from CoinGecko

ShadowCash now has a market cap of ~$625,000, ranking it 39th among cryptocurrency market caps.

Analysis

The present ShadowCash price increase has helped investors regain some of the ground they lost in late November, when the ShadowCash price rose to the mid-30,000s but then crashed to ~20,000. Shadow is a very ambitious and comprehensive project, and if their zero-knowledge anonymity process reaches fruition, the ShadowCash price should soar. However, investors should keep in mind that projects are more easily proposed than accomplished. Anoncoin’s recent Zerocoin setback should be proof enough of that.

What do you think about ShadowCash? Comment below!

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Disclosure: The author is paid in and holds investments in bitcoin. He is not invested in or affiliated with any of the altcoins discussed in this article. Any advice contained in this article is solely the opinion of the author and does not reflect the views of CCN. Neither the author nor CCN is liable for your investing decisions, so do your homework and never invest more than you are willing to lose.

Images from ShadowCash and Shutterstock.

Tags: Shadowcoin
Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.