With a probability of the digital money market gaining traction in the next few days still low, ZCash (ZEC) seems to be defying the market forces. The bears are still in grips of the shakers and movers in the market, the price decline is expected to hold a little longer. The ZCash surge leaves the rest by almost 50% in the last 7 days.
Zcash is acting the part of Bitcoin failures in particular the privacy function. With the current market trends, everything seems to be working to the ecosystems’ favor. This is among the most trusted privacy coins and there is more than what meets the eye in the coming days.
Zcash (ZEC) Onboarding Gemini Exchange
Getting listed on the first ever exchange that got a license, Gemini support for the coin seems not to end. ZCash (ZEC) will be available for trading on the Gemini from 22nd May and this will put Bitcoin in the shadows for several months. The coin will ride on the exchange and this will increase its uptake, grow the value and make it a global brand.
According to thee Gemini engineering VP;
“Zero-knowledge succinct non-interactive arguments of knowledge (or “zero-knowledge proofs”)… that offers confidentiality for peer-to-peer transactions similar to those afforded to fiat currency transfers.”
The support from the owners of Gemini; Cameron and Tyler Winklevoss is a surefire catalyst to propel the privacy coin to the next level. With a hard-fork in the offing, Zcash popularity will increase as more investors pay their attention to the ensuing events.
Why Include Zcash (ZEC) in your crypto Watch List?
As it is now, Zcash (ZEC) is not a huge mover in terms of market capitalization. However, the coin is ranked 20th. With getting listed on Gemini, this is already showing signs of growth. Investors are hard hit by the regulations and now that the coin has the endorsement of a fully licensed exchange, the sky is the limit.
During an interview with the Forbes magazine, Cameron Winklevoss, the Gemini Supremo added;
“Bitcoin and Zcash are two revolutionary technologies vying for different mantles, Bitcoin being digital gold and Zcash being digital cash.”
The regulators have confidence in the Zcash and Gemini technologies and have already given the two a nod. However, the target user base might not understand what it all means to them. The two partners have an uphill task of educating the masses gain more trust on a privacy coin.
With Gemini being the new regulation darling, ZCash is all set to enjoy the goodwill and gain more traction, inroads to markets covered by the regulators and gain investor confidence and trust. Following the listing, a spike on ZEC is clearly evident in the charts.
Zcash (ZEC) Market Performance
Although it is still early to determine the direction the ZEC coin takes in the market; the charts are already giving a guide north. With 22nd May fast approaching, there is a lot to hope for. While most coins are trading on the red, ZEC has been on the green for better part of the week ending tomorrow.
With all eyes set at 9:30am EST on May 22, the unveiling of Zcash by Gemini to the public will turn into a hit. With a market capitalization of $1,432,918,302, $212,598,000 worth of ZEC has changed hands in the last 24-hours. The coin is trading at $362.83 after gaining 5.85% to the dollar.
Zcash (ZEC) Short-Term Prediction
With the Zcash (ZEC) hard-fork just around the corner, more features are expected. Expectations are that the fork will happen on 25th June at 4.24 pm EST and will take about 3 month for the upgrade to complete. This means the coin will hold and a breakout to take it back to $800 trading grounds.
This is the right time to buy and hold; a high of $1000 seems real than three months ago. If everything goes according to plan, the upgrade and the Gemini boost will see the coin value exceed the annual projections. This is a coin to watch as it strengthens its hold in the privacy coin niche.