Ycash, the “friendly fork” of privacy coin Zcash suffered a 60 percent price drop almost immediately after launch. 

The coin, which was forked from Zcash July 19 at 19:36 PDT, fell in price from $13.95 to $2.01 at 16:45, in a mere two hours, later that day. 

Ycash grew out of a movement to return Zcash to its roots by enforcing cheaper mining and a hard cap on “founders rewards”—which awards 20 percent of newly minted coins to the Zcash development fund. To oversee the new coin and keep it distinct from Zcash, Ycash supporters set up the non-profit Ycash Foundation earlier this year. 

35 proven blockchain marketing strategies for your startup

Struggling to get traction with your blockchain-based business? Don’t worry, you’re not the only one. Blockchain marketing is a tough nut to crack. Audiences are savvy to eye-catching tactics from the web 2.0 world and no one, absolutely no one, likes being spammed with ads. So what to do?  The secret is to seek out the places your audience already congregates and to engage their interest in a genuine and thoughtful way. But don't take our word for it, we went out and spoke to startups who have...

Deep DivesBuild
19 min read
Tim Copeland

The sudden drop in price could prove problematic for investors migrating their holdings from Zcash to Ycash, who had been assured their holdings would be accessible via their Zcash private keys and would be transferred intact. Intact it may be—but the price drop has made this effectively redundant. 

Zcash, for its part, remains at $77.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.