Key Notes
- OKX is considering relisting the largest privacy coin.
- Zcash suddenly recorded strong bullish momentum to $600.
- ZEC will be available for trading on the OKX exchange on Nov.
- 24.
Zcash (ZEC) has made its way back to OKX, one of the largest cryptocurrency exchanges in the market.
OKX announced the listing of Zcash, the largest privacy token in the market, on Sunday, Nov. 23, via a blog post on its Chinese domain.
The exchange, which is also the largest offshore platform serving the Chinese market, has already started ZEC top-ups. According to the announcement, OKX will launch its ZEC/USDT spot trading at 12:00 UTC on Nov. 24. Withdrawals will open just two hours after the spot trading is activated.
Interestingly, OKX delisted ZEC, along with other notable privacy coins, in January 2024. The exchange delisted the leading privacy tokens due to “low activity” and “feedback from users” without defining specific reasons for each asset, Coinspeaker reported.
Zcash Headed to $600
Soon after the announcement from OKX, Zcash gained sharp bullish momentum as its price reached a local high of $601.
However, due to the bearish sentiment that’s been dominating the market, ZEC faced yet another correction to its current price of $564. The leading privacy token gained popularity recently due to its impressive price performance since September.
Zcash has risen by over 1,100% over the past three months. The token currently has a market cap of $9.24 billion with a daily trading volume of almost $2 billion.
Zcash’s price momentum has also brought increased interest to the broader crypto privacy market. According to data from CoinMarketCap, the total market cap of this category is currently sitting at $59.6 billion.
Popular analysts are also setting bullish price targets for Zcash. Coinspeaker reported that Ali Martinez believes that ZEC will reach the $750 mark soon. On Nov. 7, the asset briefly touched $736 for the first time since November 2016.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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Source: https://www.coinspeaker.com/zcash-rallies-to-600-as-okx-considers-relisting-zec/
