Coinscreed
  • Home
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
    • Secret Lives
    • My Life in Crypto
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
  • Quizzes
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $0.00-0.79% 24H
    BITCOIN
    24H : -0.79%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.150% 24H
    ETHEREUM
    24H : 0.150%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-0.92% 24H
    BNB
    24H : -0.92%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.000.300% 24H
    XRP
    24H : 0.300%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.000.230% 24H
    CARDANO
    24H : 0.230%
    Volume : $0.00
    Marketcap : $0.00
  • terra-lunaTerra Luna Classic(LUNC)
    $0.00-2.14% 24H
    TERRA LUNA CLASSIC
    24H : -2.14%
    Volume : $0.00
    Marketcap : $0.00
Coinscreed
  • Home
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
    • Secret Lives
    • My Life in Crypto
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
  • Quizzes
Advertise
No Result
View All Result
Coinscreed
No Result
View All Result
Home News

Digital Currency Group CEO purchases $85M worth of ZCash leading to a 7% price surge

Joy Dahunsi by Joy Dahunsi
1 year ago
in News
Reading Time: 2 mins read
A A
Share on FacebookShare on Twitter
Digital Currency Group CEO and creator Barry Silbert acquired more ZCash to add to his company’s holdings. Following Silbert’s announcement, the price of ZEC surged to $243.84 which approximately was more than a 7% increase in price.
Digital Currency Group CEO purchases $85M worth of  ZCash leading to a 7% price surge

Silbert disclosed the acquisition of $85 million in Zcash (ZEC) in a Wednesday tweet to his more than 678,000 followers, or around 376,106 tokens assuming an average price of $226.

The purchase is the latest for Silbert, who appears to be portraying himself as a crypto market contrarian by buying millions more ZEC in response to negative comments.

SuggestedArticles

NYU, NEAR protocol partner to launch Web3 learning workshop

NYU, NEAR protocol partner to launch Web3 learning workshop

6 hours ago
Alameda wallets transfer FTT tokens worth millions

Alameda wallets transfer FTT tokens worth millions

7 hours ago

Alright, you asked for it. We bought $85 million more Zcash $ZEC

Pray for us… https://t.co/Pv6i0LO789

— Barry Silbert (@BarrySilbert) December 1, 2021

Following Silbert’s announcement, the price of ZEC increased by more than 7%, from $226.08 to $243.84. However, since hitting a six-month high of more over $300 on Nov. 25, shortly after its basic protocol switched from Proof-of-Work to Proof-of-Stake, it has dropped more than 20%.

Crypto tycoons like Silbert may be buying ZEC in preparation for the project’s tokens being locked up for longer periods of time.

Electric Coin Company, Zcash’s main developer, stated on Nov. 19 that users will be able to stake a percentage of their holdings into a dedicated ZEC smart contract in order to become validators on the blockchain.

Grayscale, a $53.5 billion AUM digital asset manager run by Digital Currency Group, provides clients with exposure to cryptocurrencies through trusts.

The Grayscale Zcash Trust was first listed on the OTCQX Best Market in October. Silbert also intimated that the Bitcoin Trust will be converted into a spot-settled Bitcoin exchange-traded fund.

Tags: #Digital Currency Group#Price surge#ZCash#ZEC

Oh hi there 👋
It’s nice to meet you.

Sign up to receive a weekly round-up of the latest happenings in the crypto space!

We don’t spam! Read our privacy policy for more info.

Please check your inbox or spam folder to confirm your subscription.

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Contact Us
  • Partners
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • Home
  • News
  • Stories
    • Interviews
    • My Life in Crypto
    • Secret Lives
  • Market Analysis
  • Learn
    • Bitcoin
    • Blockchain
    • Crypto Guide
    • Cryptocurrency Exchange
    • DeFi
    • Ethereum
    • Metaverse
    • NFTs
    • Trading
    • Web3
  • Contact Us

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Join our Telegram Channel 

Stay on top of Crypto News! Get Daily updates

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!