ANON to Take Snapshot of ZClassic (ZCL), Bitcoin (BTC) Balances on September 10

ZCL prices have fallen to about $5 as an extremely bearish mood accelerated the price slide after the hard fork was completed.

The ANON snapshot is happening on Monday at 9 PM EST, as announced by the team. The balances of ANON will be granted to holders of ZClassic (ZCL) and Bitcoin (BTC) although the ZClassic community has shown more interest in receiving the extra coins.

Despite expectations, the ANON hard fork has failed to improve the sentiment for ZClassic. Instead, the coin continued sliding, with no strong interest in buying the asset ahead of the fork. ZCL lost approximately 38% in the past seven days, crashing from around $8 on September 4 to $5 at the time of writing.

The hard fork lacked the previous enthusiasm, which propelled ZCL prices to nearly $200 ahead of the Bitcoin Private (BTCP) hard fork.

In another troublesome development, Bittrex has declined to support the fork and has given no indications it would change its decision. Hence, the price of ZCL on Bittrex has fallen even lower ($4.98), while on Cryptopia, the asset trades at around $5.11. There is speculation that Bittrex, where more than 87% of ZCL trading is locked, may change its mind at the last second, causing a panic pump-and-dump event:

The price of ZCL is unpredictable, and a change can happen in the hours left. However, the mood remains predominantly bearish, suggesting a quick sell-off of ZCL and even lower prices. So far, the only appeal has been the opportunity to get additional coins from hard forks. Without that price stimulator, ZCL is just another clone of ZCash (ZEC).

Additionally, the Bitcoin Private community has viewed all other ZCL hard forks with skepticism. This included the Bitcoin Prime hard fork, which switched from ZCL to PrimeCoin (XPM) at the last moment. Bitcoin Prime supporters believe the ANON hard fork had only one aim, which is to pump the price of ZCL one more time:

At this point, ANON remains one of the more dubious hard forks, and extreme caution is advised when splitting coins, seeking ANON balances, or sending coins to previously unknown, niche exchanges.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.