Zcash Achieves Market Capitalization of $687.72 Million (ZEC)

Zcash (ZEC) traded 4.8% higher against the US dollar during the 1-day period ending at 16:00 PM E.T. on August 12th. One Zcash coin can currently be bought for about $42.12 or 0.00071210 BTC on popular exchanges. In the last seven days, Zcash has traded up 38.6% against the US dollar. Zcash has a market capitalization of $687.72 million and approximately $108.47 million worth of Zcash was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• Bitcoin Gold (BTG) traded up 1.5% against the dollar and now trades at $22.52 or 0.00038076 BTC.
• Horizen (ZEN) traded up 2.6% against the dollar and now trades at $8.61 or 0.00014560 BTC.
• Komodo (KMD) traded up 2.3% against the dollar and now trades at $0.24 or 0.00000414 BTC.
• Pirate Chain (ARRR) traded down 3.5% against the dollar and now trades at $0.17 or 0.00000281 BTC.
• ZClassic (ZCL) traded up 1.3% against the dollar and now trades at $0.0653 or 0.00000110 BTC.

Zcash Coin Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. Zcash’s official website is z.cash. The official message board for Zcash is forum.z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

According to CryptoCompare, “ZCash (ZEC) is a digital currency and decentralized open-source cryptocurrency, launched in 2016. It provides users with enhanced privacy and selective transparency of transactions. ZCash is based on the zero-knowledge proof protocol known as zk-SNARKs. This protocol allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Transactions can be audited, verified and tracked without revealing the sender, receiver or transaction amount. ZEC is an inflationary currency, with a maximum supply of 21 million coins. It is accepted by a growing number of merchants, exchanges and other services.”

Zcash Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView