Ycash, the โfriendly forkโ 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 โfounders rewardsโโwhich 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.
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