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Zcash Price Drops Below $1,000 as Dormant Wallets Move ZEC to Exchanges

(3 hours ago) · 1 source · Summarized by CryptoBipto

Zcash (ZEC) fell below the $1,000 price level after wallets that had been inactive for an extended period began transferring coins to exchanges. The movement of previously dormant ZEC holdings to trading platforms coincided with increased selling pressure on the token.

WHY IT MATTERS

When people who have held a cryptocurrency for a long time suddenly move their coins to an exchange, it can affect the price.

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SOURCES

  • cryptoslate.com

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