Coinbase continues to add tokens, ZCash Next
In an announcement made Thursday morning, it became clear that Coinbase Pro, the startup's professional trading platform, is launching ZCash (ZEC), one of the most important currencies for the privacy of the nascent market.
ZEC is about to be launched on Coinbase Pro. Starting at 10 am, customers can transfer ZEC to their Coinbase Pro account. Merchants can deposit ZECs, but can not place or fill orders. Order books will remain in transfer only mode for at least 12 hours. https://t.co/5nADybxqKk
– Coinbase Pro (@CoinbasePro) November 29, 2018
For the version in question, starting at 10:00 PST on Thursday, Coinbase Pro will begin accepting the incoming transfers (deposit) of the ZEC tokens. Reportedly, ZCash deposits will be enabled for a minimum of 12 hours before the ZEC trading goes live.
Initially, Coinbase intends to launch ZEC trading for its USDC pair, but will only do so once "sufficient liquidity has been established".
For now, presumably due to regulatory constraints, ZCash deposits, withdrawals and transactions will be activated for Coinbase customers in the United States (excluding New York State), EU, United Kingdom, Canada, Singapore and Australia . Other supported instances can be added later, pending green regulatory lights and other supporting statements.
Like the other recent Coinbase Pro listings, such as Ethereum Classic (ETC), 0x (ZRX) and Basic Attention Token (BAT), ZEC / USDC will be launched through a four-step process: transfer only, post only, limit -only, and complete trading.
For more details on these steps, please visit the Coinbase announcement.
Mentioned for two days
It is interesting to note that, as pointed out by Larry Cermak of The Block and Adolfo Luzardo on Twitter, the latest addition of Coinbase was mentioned two days ago, through an error in the Android Coinbase app.
Anyone who saw this 2 days ago could make a 15% return solid. https://t.co/TmuPrWwxix
– Larry Cermak (@lawmaster) November 29, 2018
This visual incident is not really the first of its kind. As reported by Ethereum World News earlier, before the official addition of ZRX on Coinbase, the resource actually appeared on the exchange tax calculator, another noticeable loss.
ZEC Boom in the middle of the mixed bag market
At the time of writing, due to the "Coinbase Effect" nicknamed "coloquically", ZEC recorded a 15% increase in a mixed stock market. ZEC is now valued at $ 92 a pop, with the pressure of purchases continuing to rise in the good.
This is a developing story, so Ethereum World News will be sure to keep you updated!
Title Image Courtesy of Marco Verch Via Flickr