ZCash is currently trading around good levels. There are quite a few factors as to why it is propelling forward. In the last 60 days, the performance of ZCash has been better as compared to some of the other cryptocurrencies. While most of the other cryptocurrencies are stagnating, ZCash has actually gained. There are 3 different factors as to why it is gaining.
Listing on Gemini exchange:
Gemini exchange has decided to list ZCash. This is one of the main reasons why the volumes in ZCash have been much more. Any listing on a new platform in a relatively lesser-known cryptocurrency always increases the volumes. With the increase in the buying orders, the price of the cryptocurrency also increases. This is exactly what is happening in ZCash. Earlier, it was having a pretty small market cap. With the help of this listing, not only the market cap is expanded but the liquidity in ZCash has also expanded. As a result, the price of ZCash is increasing significantly as well. Also, it is up by almost 40% in the last few weeks. This is a clear indication that there is significant buying in ZCash.
ZCash is also slated for the hard fork. Now that it is trading significantly higher from the lows, developers are thinking about introducing a hard fork. The hard fork will better the entire network. The name of the hard fork will be Overwinter. The exact date is not yet out. However, one thing which is for sure is that with the help of this hard fork, extra value will be created for the investors. Once extra value gets created for the investors, it will be easier for the investors to get rich dividends as well. This is also propelling the buying in ZCash.
Zcash (ZEC) Price Today
If you look at the price of ZCash it is likely to go up in 2019. As a result, more and more investors are thinking about investing in ZCash. This is generating additional volumes. With these additional volumes, it will become easier for ZCash to propel forward. This is exactly what is happening. With the new listing, automatically newer volumes are being generated as well which is helping the cryptocurrency.
When you look at the price movement of ZCash, you will realize that these are the 3 factors which are propelling it forward. It remains to be seen whether the momentum continues or whether ZCash rests around these marks. For now, however, it seems like the momentum is here to stay.