Huobi Global announced today that they will be suspending ZCash’s deposit and withdrawal and at the same time have reopened Monero’s deposit and withdrawal. The reason for ZCash’s suspension is due to the upcoming Sapling Hard-Fork. According to Huobi, they will enable deposits and withdrawal of ZCash after the update has stabilized.
On 28th October ZCash will undergo a network update known as Sapling. Sapling introduces significant efficiency improvements for shielded transactions. With the Sapling upgrade, shielded transactions using ZK-Snarks can be constructed in a few seconds and with less than 40 MB of memory.
The Sapling upgrade also has introduced new features such as Decoupled Spend Authority and Improved keys.
On September 19th, Huobi announced that they will be halting Monero deposits and withdrawal. The reason given by Huobi regarding the halting of XMR Deposits and Withdrawal was due to Monero’s node upgrade.
Houbi has reinstated Monero deposits and withdrawals. This news was announced on their official announcement page. The reopening of Monero’s trading has not had much effect on the price of Monero. That is because over 75% of Monero’s trading is being handled by Bithumb.
Monero is the 10th largest currency in terms of Market capitalization. The cryptocurrency has a market cap at $1.7 Billion and is trading $107. ZCash, on the contrary, is rising due to the upcoming Spaling hardfork. ZEC rose by 2.79% in the last 24 hours.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Is the Here? A Chilling Look at Collapsing Volumes The buzz around crypto has gone…
In the fast-moving world of crypto and blockchain, smart investors are eyeing for big gains.…
Ever Felt Lost in Blockchain Jargon? Blockchain sounds cool, but it often feels like a…
Why the Might Ditch the Over Gaps The world of crypto is buzzing with talk…
Betrayal in the System: Leaks Data to Crime Rings A shocking case has rocked France's…
Revealed: Survival Secrets of Without Real Profits Picture this: a company pours millions into ads,…