The 21st largest cryptocurrency that is zCash has recently rallied more than 50% in a single week, marking one of the highest surges of cryptocurrencies this year. According to many media outlets, the surge has been pushed by the news that the Gemini exchange will list zCash next week.
Winklevoss brothers' Gemini exchange adds Zcash https://t.co/saHpyl0elE by @DelRayMan
— Forbes (@Forbes) May 18, 2018
Earlier this month, the New York Department of Financial Services approved Gemini’s request to add three ZEC markets – ZEC/USD, ZEC/BTC and ZEC/ETH which make the exchange’s third cryptocurrency. Currently, the exchange supports trading pairs for ETH and BTC and has been approved to list Bitcoin Cash (BCH) and Litecoin (LTC).
What’s positive in this situation is the fact that this approval goes in line with zCash’s plans as the state of New York is considered as one of the strictest regulatory bodies in the US. According to the CEO of Gemini, Tyler Winklevoss, zCash brings the strength of its privacy and an advantage that Bitcoin lacks.
Speaking of, the zCash price jumped from $248 to $381 from May 13 to May 15. After dipping to $308 on May 17, it returned to $377 the next day – and is currently valued at $349 (May 19th).
In short, zCash has seen $181 million in volume in the last 24 hours and even though it remains below its all-time high of $876, is still bullish and set to achieve new heights.
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