The latest crypto news show that the privacy-friendly cryptocurrency named Zcash (ZEC) is officially listed on Coinbase Pro. Last week, Coinbase announced the support for the altcoin on Coinbase.com and on the crypto exchange’s Android and iOS apps, enabling users to buy, sell, send, receive or store ZEC throughout the company’s platforms and services.
Currently, Zcash support is available to customers in most of the jurisdictions. Only users from the state of New York and United Kingdom cannot access it. According to the announcement, other jurisdictions may later be added.
What’s interesting is that after the price rose, Zcash defied the so-called “Coinbase Effect” by falling 17% in a single day on November 30th. However, the Coinbase statement reads that it would offer partial support for shielded transactions until such time as local regulations allow for full implementation of transaction shielding.
An excerpt from the statement reads:
“In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information. Initially, customers can send ZEC to Coinbase from both transparent and shielded addresses, but only send off Coinbase to transparent addresses. In the future, we’ll explore support for sending ZEC to shielded addresses in locations where it complies with local laws.”
The founder of Zcash, Zooko Wilcox, expressed his optimism about the Coinbase listing and the privacy enhancements created by Zcash in spite of the many arguments to the contrary. In a tweet, he said:
“As the industry matures, we believe privacy protections will be mandated by most exchanges, governments and other financial institutions, leading to the broad adoption of Zcash.”
Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
EOS Skyrockets By 30% In 24 Hours: How Far Can This Altcoin Go?
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Join us on Facebook
- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bloomberg Editor: JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple
Bitcoin News3 days ago
Bitcoin Is Closer To A First Positive Month Since July 2018
Regulation4 days ago
New Blockchain Framework Bill Passed Into Law In Luxembourg
Altcoin News4 days ago
Norwegian Anarcho-Capitalist City Adopts Crypto As Official Medium Of Exchange
Altcoin News3 days ago
ETH-Based Maker (MKR) Outperforms In February With 37% Gains
Bitcoin News5 days ago
Is It About Time Millennials Invest All-In On Bitcoin: Investor Talk
Regulation3 days ago
SEC’s ‘ICO Guide’ With A Gloomy Outlook For Cryptocurrency In 2019
Altcoin News3 days ago
Top Cryptocurrencies See Green, Ending Week With A Positive Action