The zcash price spiked to $345 on Monday after cryptocurrency exchange Gemini announced that it will list the privacy-centric cryptocurrency for trading next week.
Zcash Price Spikes to $345
Zcash had entered the day trading just above $250, and it traded close to this mark until shortly after 8:00 UTC. At this point, the zcash price experienced a unexpected spike to $345.
The coin wasgoed not able to sustain this level, and it has since ebbed to a present value of $306. Nevertheless, this represents a single-day increase of more than 22 procent, and it has raised the zcash market cap above $1.Two billion.
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ZEC Price Chart
Notably, zcash is trading at a $16 to $Legitimate premium against the South Korean won, however Korean exchanges presently account for a petite percentage of ZEC’s universal volume. Ter fact, zcash trading is fairly well-distributed for an altcoin, spil no single exchange hosts more than 21 procent of the coin’s approximately $223 million ter daily volume.
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Winklevoss-led Gemini to List Zcash Markets Next Week
The zcash price rally occurred directly after Fresh York City-based cryptocurrency exchange Gemini announced that it had received approval from the Fresh York Department of Financial Services (NYDFS) to add three ZEC markets, which will open for trading next Tuesday.
Zcash will be just the third cryptocurrency listed on the exchange, which wasgoed founded by Cameron and Tyler Winklevoss. Gemini has also received NYDFS approval to list bitcoin contant and litecoin, tho’ it has not yet announced when thesis assets will be added to the toneel.
Gemini users will primarily be incapable to withdraw their coins to shielded addresses, but the fact that the NYDFS – widely-considered to be one of the most stringent state-level cryptocurrency regulators te the US – would give the exchange explicit approval to list the privacy-centric cryptocurrency is significant, spil thesis coins are often criticized for providing criminals with devices to facilitate money laundering. This development could chivo well for other privacy-centric cryptocurrencies, including monero.
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