Bithumb adds Zcash

One of the largest exchanges in the world, Bithumb, has added Zcash
05 October 2017   635

Bithumb, one of the largest exchanges in the world based in South Korea, has listed Zcash cryptocurrency. It is noteworthy, that Bithumb’s addition of Zcash comes a day after CEX.io, another cryptocurrency exchange based in England, added support for the cryptocurrency.

Zcash differs from other cryptocurrencies in its use of “zero knowledge proofs,” a cutting edge cryptography concept that uses nifty mathematical functions to conceal certain information related to transactions, like the identity of the payer and payee as well as the amount paid. The technology is still very new and, therefore, still undergoing testing.

Thus, Bithumb lists nine different cryptocurrencies for people to trade: Bitcoin, Ethereum, Ethereum Classic, Dash, Litecoin, Bitcoin Cash, Monero, and Zcash. David Lim, global business development manager at Bithumb, notes that "the number transactions related to Monero, which Bithumb listed in August, and Zcash are growing rapidly".

Bithumb will continuously introduce competitive coins in Korean market by studying their technology and considering the cryptocurrency market status.
 

David Lim
Global business development manager, Bithumb

Consequently, with the rumours about Zcash being added to Bithumb’s listings, there was a massive spike in price for the cryptocurrency. The market value for Zcash shot up more than 70% to nearly $400 per Zcash token, though the price has since fallen back down to around $240.

Zcash price chart on coinmarketcap.com
Zcash price chart on coinmarketcap.com

Still, at the time of writing, Zcash price is about $238.91, it's market capitalization is $556,046,291.

ZEC Can Hit $60k in 2025, Grayscale Investments Says

In order for this prediction to come true, 10% of world offshores should "enter" in Zcash
01 February 2018   226

The rate of anonymous crypto currency can rise to $ 60,000 by 2025. Financial model, developed by the researcher of Grayscale Matthew Beck says about it. At the time of publication, 1 ZEC costs about $ 400, which means that it needs to grow 150 times to make this prediction come true. This is reported by Fortune.

However, in the financial model, there is one assumption: Zcash could reach such heights, by 2025 it should be 10% of all offshore assets. Although this statement may seem absurd given the current alignment of forces in the market, Beck argues that the potential of Zcash is extremely underrated.

We think of ZEC as the first globally accessible ‘offshore’ investment opportunity, or a Swiss bank account in your pocket, so to speak. There is no single point of failure. Investors are not bound to the success or failure of a single entity, political regime, or economy.
 

Mattew Beck

Grayscale Investment

At the moment of press, these are main ZEC market parameters:

  • Average Price: $393.87
  • Market Cap: $1 253 426 55
  • 24h Volume: $74 727 600