Less than 24 hours ago, Zcash (ZEC) was leading the bullish market while other major players in the crypto market slumped. It received a huge price pump after the Winklevoss twins won the approval to trade Zcash. Gemini announced support for Zcash yesterday, and users would be able to deposit ZEC into their accounts starting from May 19, while full trading with ZEC will commence on May 22.
Zcash will be made available with USD, BTC and ETH trading pairs on the exchange platform. Following the announcement by Geminin exchange, Zcash was on its way to the moon, value of the ZEC coin was over 43%, however, the market run of Zcash was short lived as the coin joins other major players in the red market.
Price and Status of Zcash (ZEC)
The price of Zcash which spiked over 43% as the coin hit a trading value of $345 USD after being listed on Gemini has seen an abrupt end. Zcash now joins other big players in the market slump. As at press time, the value of ZEC is 4.56% down in the last 24 hours, and is now trading at $332.78 apiece.
Chart of Zcash over the last seven days: Data from coinmarketcap
Following the price pump of the previous day, Zcash is now the 23rd largest digital asset by market capitalization with a total of $1.29 billion USD (previously ranked 28th with a market cap of $1.05 billion), while the 24 hours trading volume of the asset is $392.88 million (USD).
The price slack of Zcash was quite unexpected, as the coin was predicted to trade in the green for a few days after posting the huge returns which it did. The market figures of Zcash may be in the red, but the developments in the base of the coin, would work to see the coin trade in the green once again.
Zcash Makes Joins Stark with an Investment
Not Tony Stark in the MCU, but StarkWare Industries, a new company looking to develop a new Cryptographic system that is scalable, post quantum secure, and toxic waste free, which it has decided to call STARKs.
StarkWare aims at building the next big blockchain that would be more secure, and scalable than conventional blockchains. STARK also hope to provide privacy and computational integrity to other applications beyond blockchain.
Zcash company has out rightly announced their support for the project whose creators are the founding scientists of Zcash, Professor Eli Ben-Sasson and Professor Alessandro Chiesa. Zcash company has announced not just their support for the project, but a possible collaboration with the StarkWare Team in future.
Get Ready for Hostile Blockchain Takeovers
Hostile Blockchain Takeovers is presentation put together by Zcash Company any would be featuring Joseph Bonneau. The rescheduled event is set to take place at noon today, May 16th, and would see Joseph Bonneau give a presentation about the fundamental differences between PoS, PoW ASIC and PoW GPU systems. Click here to follow the 30 minutes presentation live which would begin at 18:30 UTC.