Crypto Market Rallies While ZCash Soars in Anticipation of Gemini ListingMay 15, 2018, 9:24AM
Zcash (ZEC), a privacy-centered coin, steals the show with a large double-digit rally on news that it will soon be added to Gemini.
The cryptocurrency market is bullish today with most of the top 100 assets up by low single digits. The positive sentiment can be credited to the Consensus 2018 conference currently being held in New York. The three-day event has a history of boosting crypto prices, and many expect it to lead the industry to long-term gains.
The total market is now worth approximately $405 billion with Bitcoin dominance increasing slightly to 36.7% of the market. Ethereum and the altcoins are also doing well today. However, Zcash (ZEC), a privacy-centered coin, steals the show with a large double-digit rally on news that it will soon be added to the Gemini digital asset exchange.
Zcash Added to Gemini Exchange
Gemini, a large American cryptocurrency exchange owned by the Winklevoss brothers, has announced that it will be enabling support for Zcash starting next week. Zcash is known for its exceptional privacy protection which is achieved through a unique address shielding technique. The team behind Gemini believes the coin will be a good addition to their current offerings: Bitcoin (BTC) and Ethereum (ETH).
News of the listing sent Zcash prices soaring. The coin started Monday at around $250, suddenly spiking to $345 before settling down at around $306. Today, Zcash is up 27.42% to $373 unit and a total market cap of $1.46 billion on heavy volume ($500 million worth of transactions). It is now the 22nd largest cryptocurrency, just under Binance Coin (BNB) and Qtum (QTUM).
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