Whilst the price of other cryptocurrencies has fallen over the past day, ZenCash has seen its price soar…
Against a backdrop this week of falling cryptocurrency prices, one coin has seen its value heading in the opposite direction.
ZenCash (ZEN) has seen its price soar, predictably courtesy of a listing on the Binance cryptocurrency exchange. It’s become the norm now to see the price of a newly-listed coin soar, and so it proved for ZEN.
Here’s the announcement Tweet…
🔊 ZenCash is now listed on #Binance! Open trading for ZEN/BNB, ZEN/BTC and ZEN/ETH trading pairs at 2018/05/23 05:30 AM (UTC). Users can now start depositing ZEN in preparation for trading! @binance #zencash pic.twitter.com/95Tw3GnSbe
— ZenCashOfficial (@zencashofficial) May 23, 2018
Described by those behind it as “the most resilient and censorship resistant privacy cryptocurrency blockchain and privacy coin”, ZenCash was launched a year ago (forked from ZClassic), and has set aside from the start 8.5% of its funds for marketing, support and development.
Since its Binance listing, that became active today, the price of ZEN has shot up nearly 40% in under a day. The same day that Bitcoin, notably, fell below $8000.
Here’s the chart of ZEN’s price over the past 24 hours. See if you can spot the moment where the Binance announcement was made…
It remains to be seen, of course, how much of this new growth is sustainable. But for now, ZEN is very much in the spotlight.