It can often be said that there is never a dull day in the world of Crypto. This week (May 14-16) is the yearly Consensus conference, which usually yields excitement in one form or the next, whether directly associated with the conference itself or not.
Gemini Exchange Announces Additions: Litecoin, Zcash, and Bitcoin Cash - @cointribune - www.Cryptonicles.com
Very exciting news came today, May 14th, in the form of exchange listings. Whenever Binance or Bittrex list new coins or tokens, it can often lead to price action of some kind, as well as excitement. However, when a large, fiat gateway exchange, lists new coins/tokens, it often leads to higher levels of excitement, as this does not happen as often.
There has been much excitement today, as the public has learned that the Gemini exchange plans to list three more crypto assets. Litecoin (LTC), Zcash (ZEC), and Bitcoin Cash (BCH) will be added to the Gemini exchange.
“The Gemini exchange, a creation of Tyler and Cameron Winklevoss, has stated that it is supporting Litecoin (LTC), Zcash (ZEC), and Bitcoin Cash (BCH). The development is an aftermath of the approval given by the New York Department of Financial Services (NYDFS)” (Yusuff Olayode Supoto, ethereumworldnews.com)
Litecoin and Bitcoin Cash are both battling to be used in the transactionary space for cryptocurrency, with emphasis on faster transactions comparative to Bitcoin. Zcash is a privacy coin, focusing on anonymity.
“Bitcoin and most cryptocurrencies expose your entire payment history to the public. Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography” (z.cash).
Zcash can be argued as the most exciting addition to Gemini, as there has been much speculation over the past several months, about the addition of a privacy coin to Coinbase/Gdax, or Gemini. LTC and BCH are already tradable on Coinbase/Gdax, with Gemini only having BTC and ETH before the aforementioned new additions. Privacy coins such as Dash, Monero, and Zcash are all competing in the privacy space.
Coinbase/Gdax and Gemini can be argued as the simplest way for the mainstream masses to get involved in the cryptocurrency space. News of the Zcash addition is particularly exciting, as it may lead to more mainstream and widespread use of ZEC.
*Article written based on my interpretation of the data.
* At the time of writing this article, I have not received compensation for writing this article. All opinions expressed in this post are based on my personal view. I am not advising anyone to buy or sell anything. Not financial advice. For entertainment only.
Supoto, Y. O. (2018, May 14). Litecoin (LTC), Two Other To Be Listed On Gemini. Retrieved May 14, 2018, from https://ethereumworldnews.com/litecoin-ltc-two-other-to-be-listed-on-gemini/
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