Cumberland Mining, a major provider of cryptocurrency liquidity for OTC traders, brokers and exchanges has now started making markets in Zcash (ZEC). The company is a subsidiary of multi-asset proprietary trading firm DRW.
Bobby Choo, who facilitates trade in digital currencies at Cumberland confirmed this with CryptoNinjas saying:
“As one of the largest OTC liquidity providers in the space, we look to make markets across different cryptocurrencies, ZEC included.”
Bobby has worked within capital markets since 2008, first as Market Analyst for SecondMarket, before joining as Director of institutional bitcoin exchange, itBit. He has been trading digital currencies with DRW since May 2016.
The news was caught by full-time trader @CollinCrypto who receives pricing emails and noticed ZEC added to the list. See the image on the right.
He shared the following comment to put in context:
“Since the bitcoin ETF rule change decision was denied by the SEC, a lot of money has been flowing from the Bitcoin network into various altcoins. The coins with the most long-term potential have seen the highest returns, and ZEC is one that buyers are speculating on. Bitcoin’s dominance is nearing all-time-low levels when pitted against the global altcoin market. Altcoins are now hovering around 25% of the total USD market cap at the moment (with recent price increases and new highs in ETH and DASH).”
Cumberland Mining provides the following services:
- API access for real-time pricing as well as weekly OTC pricing emails.
- All transactions are confidential, and transaction data is kept safe and secure.
- Works with global counterparties and can settle large bitcoin block trades same day.
- Streamlined counterparty onboarding.
- Two-way prices for institutional sized transactions.
- ALT markets including ETH, ETC, XMR, LTC, REP.
Thank you, Collin. Everyone follow @collincrypto on Twitter for insights from a veteran full-time cryptocurrency trader.
According to Mike Komaransky, the head of trading at CMM, their trading desk. is “only seeing ETH interest (buying and selling).” People were asking for ZEC so they added it, but they are looking to remove LTC and REP markets due to low interest.