Zcash (ZEC) listed on Coinbase Pro – price already spiking

Speculation about the next coin to be added on Coinbase was most popular topic in crypto world for a long time until this November nosedive in prices took place and forced it to take the back seat. Now, Coinbase will be back in headlines after announcing that the next coin to be added on their platform will be ZCash – ZEC.

As you would expect it, markets are already reacting to this news and ZEC is up 13% in the last hour.

Anatomy of Coinbase pump

We can spot a pattern of how the price behaves after the coin gets listed on Coinbase. Prime examples for that are ZRX and BAT. In essence, coin gets an initial bump after being announced to be listed on the former GDAX, now Coinbase Pro platform. Approximately 5 – 7 days after that, Coinbase basic lists the token as well which sends another wave upwards for the token price.

After both listings are settled, dump starts to form, slowly at first and then a real slide downwards to almost the same price level where the pump started from.

We already covered this topic extensively and predicted ZEC has more chances to be listed on Coinbase than 2 other major nominees: ADA or XLM.

Adding those two would just be adding another dapp platform, adding ZEC would be a first privacy coin on Coinbase.

Note that Coinbase will only add support for transparent addresses from the ZEC blockchain as they are a very by-the-book company. ZCash has an optional privacy features where you can choose what type of transaction you want to make: private or regular, transparent transaction.

Another argument for Zcash was that it has a company with a steady budget (founders reward) behind it. This means there will always be enough funds to help push things forward with development and education. In addition, serious crypto funds and high profile individuals from crypto space (like Digital Currency Group, Pantera Capital, Barry Silbert, Fred Ehrsam, Winklevoss, Fenbushi Capital, etc…) have continued to invest heavily in Zcash with things like seed rounds and the Zcash investment trust. People who lead these funds are also well connected with decision makers at Coinbase and regulatory bodies which is another plus for ZEC candidacy.

It a great combination of Tech, Team, Community and Connections that is propelling and will continue to propel Zcash forward.

In addition to user-issued tokens on Zcash, the Zcash scientists are busy working on the next generation of zk-SNARKs known as zk-STARKs which do away with the need for a trusted setup and could greatly aid with the generally unsolved problem of scalability.

ZCash finally launched its much anticipated ‘Sapling’ upgrade on October 28. The Sapling upgrade brought a whole slew of new features and benefits to the ZCash ecosystem, including some fundamental changes that improve efficiency, security, and privacy for users.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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