Zcash Price Declines With Flat Coinbase App Listing
Coinbase listed Zcash (ZEC), a privacy coin, one week ago on Coinbase Pro. ZEC is also live on Coinbase’s trading applications for Android and iOS systems. Though a majority of jurisdictions do not limit their citizens’ ability to trade, there are two – the United Kingdom and New York – that have placed limits on such trading.
Interestingly enough, although Coinbase is often designated as a platform able to drive value, ZEC’s listing has not fared well on the platform. It fell 11 percent over a 24-hour period to $66.50. This is down from the high of $90. Though the decline could be attributed to a weak market, such conditions do not explain the massive selloff that occurred today. The coin has a market cap of $358.3 million and is the 18th largest coin on the ALT100 Index.