Zcash (ZEC) Price Drops 11% as Coinbase App Listing Falls Flat
ZEC is now live on Coinbase and in the Android and iOS apps. Coinbase customers can log in now to buy, sell, send, receive, or store ZEC. https://t.co/dR1h0eqIqe
— Coinbase (@coinbase) December 5, 2018
According to the announcement, ZEC trading is available for customers in most jurisdictions, but will not initially be available for residents of the UK or New York.
While many tout a listing on Coinbase as a value-driver, the recent listing has seen ZEC fall 11% in the last 24 hours to $66.50 — although, ZEC traded over $90 for a brief period after being listed on Coinbase Pro.
While this could be the result of poor market conditions, the listing hasn’t helped ZEC avoid today’s selloff. The privacy coin now has a $358.3 million market cap, making it the 18th largest coin in the AltDex 100 Index (ALT100), a benchmark index for the top-100 large-cap cryptocurrencies.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.