Zcash Market Cap Achieves $521.92 Million (ZEC)

Zcash (ZEC) traded 1% lower against the US dollar during the twenty-four hour period ending at 14:00 PM ET on July 22nd. Over the last week, Zcash has traded up 11.4% against the US dollar. One Zcash coin can now be purchased for $31.96 or 0.00047440 BTC on major cryptocurrency exchanges. Zcash has a total market cap of $521.92 million and approximately $290.38 million worth of Zcash was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Bitcoin Gold (BTG) traded down 2.6% against the dollar and now trades at $25.47 or 0.00037800 BTC.
• Horizen (ZEN) traded down 2% against the dollar and now trades at $11.93 or 0.00017702 BTC.
• Komodo (KMD) traded down 1% against the dollar and now trades at $0.29 or 0.00000431 BTC.
• Pirate Chain (ARRR) traded 0.9% lower against the dollar and now trades at $0.20 or 0.00000293 BTC.
• ZClassic (ZCL) traded 0.6% lower against the dollar and now trades at $0.0542 or 0.00000080 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was 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. Zcash’s official website is z.cash. Zcash’s official message board 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.

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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView