After a magnificent run up last week, Zcash (ZEC) has dumped and is now back to the $125 – $126 level. Anyone who caught the pump, whose volumes were largely coming from South Korea made a killing. However, this dump is a second chance for investors to jump onto the Zcash (ZEC) money train in anticipation of some more gains.
One of the reasons why it is up for another pump is Coinbase. Zcash (ZEC) is one of the coins that are expected to be listed on Coinbase either this year or sometime in 2019. The others are stellar (XLM) and Cardano (ADA). Considering the huge influence that Coinbase has on crypto prices, due to investor speculation, Zcash is well placed for another pump. The moment information hits the market that a Coinbase listing is imminent, Zcash (ZEC) could break above its recent high of $139.50, and make speculators some money.
But this dump is not just an opportunity for short-term speculators, it is also an opportunity for long-term investors to load up on ZEC. Zcash has a strong showing in the privacy market, and with its Zn-Snarks technology, it is well positioned to grab a huge share of this market. The private transaction market is a large and fast-growing market, one that could push Zcash way past it’s its all-time highs.
Zcash (ZEC) is also the only privacy coin that tends to win favor in institutional circles. Institutions like JP Morgan have using Zcash for anonymous transactions. JP Morgan uses Zcash on their private blockchain Quorum. JP Morgan is a top Wall Street institution and the fact that it is using Zcash is a pointer that Zcash could make the cut in a scenario where regulators decide to go after privacy coins. Zcash low regulatory risk is further minimized by the fact that, users have the option to send money on the open ledger in support of wallets and exchanges that don’t support private transactions.
Backed by such strong fundamentals, Zcash (ZEC)’s future looks good. It stands in a good position to outperform the other privacy coins in the next crypto bull run, and at its current prices could be considered highly undervalued.