Zcash Price Soars 10% as OKX Eyes ZEC Relisting

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Zcash Price Soars 10% as OKX Eyes ZEC Relisting

Highlights

  • Zcash relisting on OKX reignites strong bullish momentum among traders.
  • Zcash Price Soars 10% after OKX announced Relisting ZEC
  • Breaking $620 resistance could open the pathway toward a significant $700 target.

 

Zcash price surged by 10% in the past 24 hours after news of OKX considering ZEC for relisting. The sudden rally pushed Zcash above $57, signaling strong bullish momentum. Traders are already positive and are looking to gain more as the privacy-centric cryptocurrency gains increased interest.

Zcash price outlook emerged as the top-performing asset in the crypto market during this period. This prominent increase comes after a week of uncertainty and mixed feelings among the investors. 

In the meantime, the overall crypto market recovered by 2.68% following a previous drop of 9.09% in the week before. BTC, ETH, SOL, and XRP also registered a small 24-hour recovery.

OKX Relists Zcash, Spot Trading Resumes Soon

Zcash (ZEC) is returning to OKX, one of the largest cryptocurrency exchanges in the global market.

On November 23, OKX announced in its Chinese blog that it will re-list Zcash, the most privacy-oriented cryptocurrency.

At 12:00 UTC, November 24, the ZEC/USDT spot trading will become operational. OKX users will be able to deposit ZEC already, and withdrawals will be provided two hours after the trading has started.

The relisting is important, with OKX already delisting Zcash, Monero (XMR), and Dash (DASH) between January 4–5, 2024. The delisting was a larger regulatory compliance initiative

The largest offshore crypto exchange serving the Chinese-speaking community, OKX, seems to be turning around. The bulls have become strongly interested in Zcash because of this change. After the announcement, ZEC shot up dramatically, reaching a local high of $601.

This change is significant in the position of OKX on privacy coins and demonstrates that the market has new confidence in the future of ZEC.

How High Can Zcash Price Go This Week?

The latest Zcash price climbed to $574.31, and has seen a strong surge after holding a key support area. 

The MACD approaches a potential bullish crossover, with the bearish pressure gradually decreasing. The reduction of red histogram bars indicates that the sellers are in discharge with the buyers withdrawing from the market.

The RSI is approaching the mid-40 area following previous oversold situations. This stance leaves Zcash with room to go up further in case market moods become optimistic.

Zcash Price Soars 10% as OKX Eyes ZEC Relisting
ZEC/USD 4-hour chart: Tradingview

If downward pressure returns, support rests at $550, with deeper support below that threshold. The first upside target sits at $620, which remains a major short-term hurdle. A successful breakout could open the path toward $700, the next significant resistance region.

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Frequently Asked Questions (FAQs)

1. When will Zcash trading resume on OKX?

Spot trading for the ZEC/USDT pair will resume on November 24 at 12:00 UTC. Deposits are already open, and withdrawals will open two hours after trading begins.

2. Why was Zcash delisted from OKX earlier?

OKX delisted Zcash in January 2024 as part of regulatory compliance measures that also affected other privacy coins such as Monero and Dash.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.