Coinbase Pro Lists Zcash (ZEC), Causing Price to Surge Over 6%

On Thursday (29 November 2018), crypto exchange Coinbase announced that it had listed privacy coin Zcash (ZEC) on "Coinbase Pro", its platform for professional/experienced traders. Coinbase Pro started accepting  Zcash (ZEC) deposits at 10:00 PT (18:00 UTC) on November 29th; as with  previous new listings, the exchange will continue accepting deposits  "for at least 12 hours prior to enabling trading." And as usual, only  when there is sufficient liquidity, Coinbase Pro will enable trading of  the ZEC/USDC pair to start. 

The jurisdictions currently supported are  the U.S. (excluding NY state), Canada, UK, European Union, Singapore,  and Australia. Note that only once Coinbase has  seen that there are no technical issues with ZEC trading on its Pro  platform, it will consider adding ZEC to Coinbase Consumer  (Coinbase.com) or its mobile apps. ZEC is going to have a four-step  staged launch. Each of these stages will be followed independently "for  each new order book". 

If at any point, one of these new order books  fails to meet Coinbase's standards "for a healthy and orderly market",  they may "keep the book in one state for a longer period of time, or  suspend trading." The four stages are:  

• "Transfer-only. Starting at 10am PT on Thursday November 29th,  customers will be able to transfer ZEC into their Coinbase Pro account.  Customers will not yet be able to place orders, and no orders will be  filled on these order books. Order books will be in transfer-only mode  for at least 12 hours."
• "Post-only. In the second stage, customers can post limit orders  but there will be no matches (completed orders). Order books will be in  post-only mode for a minimum of one (1) minute. This market state may be  kept short or extended to increase market health during launch."
• "Limit-only. In the third stage, limit orders will start matching  but customers will be unable to submit market orders. Order books will  be in limit-only mode for a minimum of 10 minutes."
• "Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders."

At press time, according to data from CryptoCompare, ZEC is trading at $84.10, up 2.54% in the past 24-hour period.