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Zcash (ZEC) Up 45% With Gemini Listing and Trading Pairs

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Zcash
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The uncertainty as to whether the privacy aspect of Zcash (ZEC) was an advantage or disadvantage has been forever extinguished with the developments of the last day with respect to the coin. The first of these developments being that the Gemini exchange, that is co-founded by the Winklevoss twins, is now the first licensed Zcash Exchange. The exchange revealed yesterday, that it will open Zcash trading on the platform and pair ZEC against the US Dollar (USD), Bitcoin (BTC) and Ethereum (ETH).

According to Tyler Winklevoss, CEO of Gemini, Zcash picked up on where Bitcoin left off in terms of providing the added privacy much needed on the blockchain ledger.

Also to add is that Gemini is now regulated by the New York State Department of Financial Services (NYDFS). The organization is considered as being one of the most strict in the US cryptocurrency industry. This, in turn, made the Gemini exchange to meticulously carry out due diligence before listing Zcash trading on the platform.

ZEC trading will officially begin today at 9.30 Eastern American Time with deposits being available from Saturday, May 19th.

The above announcement then led Zcash (ZEC) on a rally that has led the coin to increase in value by 45% in 24 hours. ZEC is currently priced at $357 and looks like it will be a matter of time before it regains a spot at the top ten according to coinmarketcap.com. ZEC is currently ranked 23rd in terms of market capitalization and has been the subject of uncertainty, as earlier mentioned, due to the privacy aspect that is a topic of contention amongst financial regulators and lawmakers. They argue that 100% privacy can be misused by rogue individuals who want to commit fraud, money laundering or even other unspeakable crimes.

This concern seems to have been cleared with the ZEC listing on Gemini.

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ZCash has also been the coin of noteworthy mentioning by crusaders of privacy and reduced government surveillance. Edward Snowden is one such individual. Snowden has been quoted as saying that Zcash is the only altcoin he knows, for now, that is designed and built by professional and academic cryptographers.

What might happen moving forward, is that ZEC will reclaim its glory amongst the top 10 coins and even maybe reach the much anticipated $1,000 value depending on the daily trade volume that Gemini creates.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of beamaed via Flickr

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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