The Zcash price grew to $345 this week after the cryptocurrency exchange Gemini announced that it will list the privacy-centric altcoin in its trading pairs next week. Before the announcement, the Zcash price was about $250. Following the announcement, it spiked to $345 proving how much news like this can be important for the rise of cryptocurrencies.
Currently, the Zcash price is valued at $366 and could be rising to $400 really soon. The altcoin has a $1.44 billion market cap which also rose from below-billion. The Zcash price rally occurred directly after the New York City-based cryptocurrency exchange Gemini announced that it had received approval from the NY Department of Financial Services (NYDFS) to add three ZEC markets which will open for trading next Tuesday.
On top of this, the Zcash price surged because the altcoin is the third listed on Gemini, the exchange founded by Cameron and Tyler Winklevoss. Gemini also received the approval needed from the NYDFS to list Bitcoin Cash (BCH) and Litecoin (LTC) even though it didn’t announce precisely when these assets will be added to its platform.
The users behind Gemini will initially be unable to withdraw coins from their addresses.
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However, the fact that NYDFS (as one of the most stringent state-level crypto regulators in the US) would give the exchange approval – it is true that the future of Zcash looks great.
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