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Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values
Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values

ZCash News - Galaxy Digital Makes Foray Into Zcash OTC Market

  • Alex Morris
    📰 News

    Galaxy Digital serves as an on-ramp for institutional investors who want to dip their toes in the nascent industry

Galaxy Digital Makes Foray Into Zcash OTC Market
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Galaxy Digital, a multi-service merchant bank spearheaded by Wall Street titan Mike Novogratz, now offers OTC trading of Zcash. The startup is willing to make markets across different digital currencies.

Galaxy Digital Makes Foray Into Zcash OTC Market

A major liquidity provider

According to the blog post that features the announcement, Galaxy Digital is the perfect example of an old-meets-new financial institution given that it brings ‘world-class experience’ from the traditional market to the burgeoning crypto sector.

OTC trading is one of the four business lines run by Galaxy Digital. The Novogratz-led startup rolled out an OTC sales desk in Q2 2018 in order to buy and sell digital assets on behalf of other institutional investors.

👉MUST READ Wall Street Titan Mike Novogratz Thinks Institutional Money Will Make Bitcoin Price Skyrocket

Seeking institutional traders

Galaxy’s Yoshi Nakamura claims that Zcash is a good addition to the basket of tokens that are already available for OTC trading, and they are willing to further expand their token ecosystem.

Zcash has been already added by a slew of other big-name OTC trading platforms, including Circle, which managed to realize a whopping $24 billion worth of OTC trades in 2018 alone. Cumberland and Genesis Trading are also onboard.

Back in October, a report concluded that the OTC market is four times larger than the exchange market ($12 bln and $4 bln respectively). However, it is rather challenging to navigate the realm of OTC brokers.

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ZCash News - Top 10 Most Profitable Cryptocurrencies of All Times

  • Alex Morris
    📊‍ Infographics

    💣Did you invest in a cryptocurrency project from the get-go?✅ Find out how much you earned or lost after the initial investment

Top 10 Most Profitable Cryptocurrencies of All Times
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DataLight has compiled the list of top 10 most profitable cryptocurrencies of all times. Bitcoin, which topped the list with a mammoth-sized lead, would have given you a 1.3 mln percent return on your investment (ROI) if you were among the earliest adopters.

👉MUST READ Zcash (ZEC), Litecoin (LTC), and Dash (DASH) Had Biggest One-Year Increase in Circulating Supply

From rags to riches  

Bitcoin, the very first cryptocurrency, was listed on an exchange for the first time in June 2010 at the price of $0.30. At the time of writing this article, BTC’s price is comfortably sitting at $3,946.09 while struggling to surpass the psychologically important mark of $4,000.

Ethereum’s (ETH) price increased 68,205 percent (from $0.2 to $136.61 since its very first listing that took place in August 2014). Dash (DASH) comes in third place with a 39,509.52 percent increase.

Coins that failed investors  

Binance Coin (BNB), NEM (XEM), and XRP (XRP) are also among the top 10 most profitable coins.

Meanwhile, Zcash (ZEC), Bitcoin Gold (BTG) and Bitcoin Cash (BCH) are the currencies with the biggest loss. ZEC started trading at $4,293 in 2016 while currently trading at $50.82, which gives us a 98.82 percent drop. However, the coin did increase its CMC position as its supply started growing.

There are ten currencies in the top 30 that decreased in value after their initial listing.

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