Zcash (ZEC) Hits Market Cap of $629.15 Million

Zcash (ZEC) traded up 4.4% against the U.S. dollar during the one day period ending at 23:00 PM E.T. on November 1st. Zcash has a total market cap of $629.15 million and approximately $72.45 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be purchased for $38.53 or 0.00055239 BTC on popular cryptocurrency exchanges. In the last week, Zcash has traded 6.6% higher against the U.S. dollar.

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

• Bitcoin Gold (BTG) traded up 2% against the dollar and now trades at $22.53 or 0.00032295 BTC.
• Horizen (ZEN) traded up 2.6% against the dollar and now trades at $7.47 or 0.00010714 BTC.
• Pirate Chain (ARRR) traded up 0.5% against the dollar and now trades at $0.18 or 0.00000263 BTC.
• Komodo (KMD) traded 0.3% lower against the dollar and now trades at $0.23 or 0.00000329 BTC.
• ZClassic (ZCL) traded 0.8% higher against the dollar and now trades at $0.0488 or 0.00000070 BTC.

Zcash Coin Profile

Zcash 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. The official website for Zcash is 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. 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.”

Zcash Coin Trading

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

ZEC/USD price chart by TradingView