Zcash Rallies After Latest Relisting Announcement From Major Exchange

Zcash, the privacy-focused cryptocurrency, surged much than 12% to commercialized adjacent $600 connected Sunday aft OKX announced it would relist the token.

The rally makes ZEC the top-performing plus among large cryptocurrencies successful the past 24 hours, importantly outpacing Bitcoin, which has struggled to reclaim the $90,000 level.

On November 23, OKX announced that spot trading for the ZEC/USDT brace would resume astatine 12:00 UTC tomorrow.

While the speech failed to supply further reasons for its decision, the determination marks a important regulatory U-turn for the venue. It had antecedently delisted the plus successful 2023, citing compliance risks.

Nonetheless, the determination tin beryllium linked to 2 important factors, including ZEC's beardown outperformance of Bitcoin successful caller months.

It besides reflects a post-election regulatory thaw, arsenic the caller SEC enactment is emboldening platforms to re-integrate privateness protocols that were erstwhile considered radioactive.

Meanwhile, the resurgence of Zcash has ignited a philosophical clash connected Wall Street regarding the aboriginal of integer privacy.

Eric Balchunas, Senior ETF Analyst astatine Bloomberg, cautioned that the abrupt pivot to privateness coins could fragment the broader crypto narrative. He noted that this displacement comes astatine a clip erstwhile Bitcoin is trying to consolidate organization support.

He argued that pushing a abstracted privateness furniture risks “splitting the vote” of superior allocation erstwhile Bitcoin needs unified governmental and taste backing to cement its presumption arsenic a planetary reserve asset.

"Zcash has third-party campaigner vibes, similar Gary Johnson oregon Jill Stein. Seems similar you'd amended disconnected folding successful their ideas to the main enactment vs splitting the vote, which could person large consequences, particularly successful specified a important clip for BTC," helium said.

However, plus managers suggest that cardinal flaws successful Bitcoin are driving the rotation.

Jan van Eck, CEO of planetary concern manager VanEck, pushed backmost against the "spoiler" characterization. He noted that seasoned investors are treating Zcash arsenic a indispensable complement to Bitcoin alternatively than a competitor.

According to Van Eck, the existent carnivore marketplace successful Bitcoin reflects “the on-chain reality” of surveillance risks. He argued that rising request for confidentiality is driving superior toward Zcash’s encrypted ledger.

Read archetypal communicative Zcash Rallies After Latest Relisting Announcement From Major Exchange by Oluwapelumi Adejumo astatine beincrypto.com