ZenCash (ZEN) On A Massive Bullish Run Amid Binance Listing
Founded in 2017, a fork of Zclassic, which is also a fork of Zcash, ZenCash (ZEN) has been made available on Binance for trading. Surrounding the news is another great development for the ranked number 90 altcoin in the market table as it experiences a massive bullish run in the market even though the crypto market is deepening and most altcoins are dripping.
At around 07:30 AM (UTC) today, Binance, the Cryptocurrency exchange, that was established in the year 2014, announced on its website that ZenCash has been made available for trading on its platform.
“As the ZenCash network is now stable, Binance will open trading for ZEN/BNB, ZEN/BTC and ZEN/ETH trading pairs at 2018/05/23 07:30 AM (UTC).”
Prior to the news, it seems like there has been rousing information in the crypto sphere that the exchange which is dubbed to carry out secured transactions at lesser fees will be listing the altcoin.
In this manners, Binance, at exactly one hour before the listing announcement, gave a notice, declaring that there will be a delay in the introduction of the altcoin on its platform due to congestion on ZenCash network.
“Due to high congestion on the ZenCash network, Binance will postpone the listing of ZenCash until their blockchain is stable. We will keep ZEN deposits open and provide a further announcement prior to listing. Thank you for your understanding. ”
Zencash In The Market Amid The Listing.
The Cryptocurrency platform that is focused on making transactions, communication, and publishing private and reliable in the blockchain industry, ZenCash has been on a bullish run since the last six hour.
According to Coinranking, Zencash, in the last 24hours is a greener in the market adding 19.85% to its value while most altcoins are flagged with red.
Ranked the 90th altcoin in the market, ZenCash has a market cap of over 158 million dollars with a 24hrs market volume of 38 million dollars.
In the last 7 days, ZenCash added 39.09% to its value in the market, while the last 30 days was featured with 16.71% market growth.
Musing over the listing and growth of the altcoin in the market, there seems to be a connection between both. Even though the growth of the altcoin came before the listing, it was noticed that the news of the listing has been in the air for some time, in line with the notification issued by the exchange an hour before the listing. Therefore, the listing could be a major factor underpinning the altcoin’s bullish run in the market.
Niyi Adejare Moses Author
Niyi Adejare is a cryptocurrency analyst. He has written many articles on cryptocurrency, technology, and personal development.