ZClassic (ZCL), a cryptocurrency forked from Zcash (TIKER: ZEC.EXANTE), had a bad 24 hours as the cryptocurrency declined almost 80% to $18 on Thursday, according to CoinMarketCap.com.
The drop comes after the Bitcoin Private hard fork that occurred on February 28. ZCL achieved a peak just below $200, and went on to crash painfully.
The snapshot occurred yesterday (on 28 February, 2018) at block height 272991 for ZClassic and 511346 for Bitcoin.
The coin's value was mostly driven by two expectations: a reward of Bitcoin Private coins, and a chance for quick returns, according to Cryptovest.
And after the Bitcoin Private fork went through, the asset seems to have lost all meaning.
ZClassic (ZCL) is down -79.82% in the last 30 days from $112.8 per coin.