ZCash dropped a bomb on the market this week, listed on the Gemini Stock Exchange. For a long time ZCash has started to be attracted to the market with its recent price movements after stopping as a boring entity.
As Monero (XMR) gains more importance and publicity, ZCash (ZEC) has always been an obsolete digital asset. However, ZEC is also one of the most important coins, and its listing on the Gemini stock market has also boosted its price.
However, it was seen that the price acceleration returned and moved independent of the markets turning red again. ZEC rose 32.56 percent last week, rising more than 10 percent to $ 367.14 per night. We have also seen the coin volume approaching the highest level of all time with the movement in the past days. We have finally seen Zec enter the world of demanded stock exchanges and turn into an active commodity as an important asset.
Zcash does not have a pair of Tethers yet
For ZEC, increasing dollar volumes are a factor that drives price, which is broken down to some extent from Bitcoin. At the same time, ZEC has not yet found a pair of Tethers (USDT). For now, the price increase indicates that new investors are buying.
Among the secret co-ops on the market, ZEC has also been confirmed by various parties, including Vitalik Buterin, Saleem Rashid and Riccardo Spagni from Monero. Although ZEC has had problems, the ZEC project has survived longer and more regularly than other crypto coins.
However, we have seen that the last contraction movement in the market has returned some of the gains it has achieved with the formation of pressure, which may fluctuate in particular. On the other hand, the use of ZEC coin has the option of anonymously making traceable transactions such as transfers between other coin pairs and exchanges.
ZEC was known as a boring entity due to its low transaction volumes and price not being too volatile. For ZEC’s Blockchain, we can call it a relatively new technology. The coin, which was launched in October, is known to be a source of about 4 million coins.
For this reason, it is anticipated that ZEC will be able to move to four-digit rates on the long-haul, if some upward market acceleration continues. Nonetheless, ZEC, seen as a high-priced entity, does not seem exaggerated as promises to easily reach ten times lower-priced coins. In addition, ZEC expects the ASIC mining influence, community decision to allow the network hashrate to grow, or a forcing to block the ASIC.
Exchange Rate: EUR