Zcash Hits Market Capitalization of $549.18 Million (ZEC)

Zcash (ZEC) traded 6.4% lower against the U.S. dollar during the one day period ending at 10:00 AM ET on October 27th. In the last week, Zcash has traded down 7.4% against the U.S. dollar. Zcash has a total market capitalization of $549.18 million and approximately $57.84 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be purchased for approximately $33.63 or 0.00049767 BTC on exchanges.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Bitcoin Gold (BTG) traded 0.7% higher against the dollar and now trades at $21.74 or 0.00032170 BTC.
• Horizen (ZEN) traded up 2.6% against the dollar and now trades at $7.42 or 0.00010974 BTC.
• Pirate Chain (ARRR) traded 2.3% lower against the dollar and now trades at $0.18 or 0.00000270 BTC.
• Komodo (KMD) traded 1.1% higher against the dollar and now trades at $0.23 or 0.00000347 BTC.
• ZClassic (ZCL) traded up 1.2% against the dollar and now trades at $0.0575 or 0.00000085 BTC.

Zcash Profile

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 Twitter account is @electriccoinco and its Facebook page is accessible here. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official website is z.cash. The official message board for Zcash is forum.z.cash.

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.”

Buying and Selling Zcash

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

ZEC/USD price chart by TradingView