Zcash Market Capitalization Hits $533.76 Million (ZEC)

Zcash (ZEC) traded down 4.7% against the U.S. dollar during the 1-day period ending at 10:00 AM ET on August 3rd. One Zcash coin can currently be bought for approximately $32.69 or 0.00052779 BTC on major cryptocurrency exchanges. During the last seven days, Zcash has traded up 5.4% against the U.S. dollar. Zcash has a total market capitalization of $533.76 million and approximately $93.57 million worth of Zcash was traded on exchanges in the last day.

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

• Bitcoin Gold (BTG) traded down 5% against the dollar and now trades at $24.14 or 0.00038977 BTC.
• Horizen (ZEN) traded down 5.7% against the dollar and now trades at $9.40 or 0.00015176 BTC.
• Komodo (KMD) traded down 3.3% against the dollar and now trades at $0.25 or 0.00000407 BTC.
• Pirate Chain (ARRR) traded 5.7% lower against the dollar and now trades at $0.16 or 0.00000261 BTC.
• ZClassic (ZCL) traded down 11.1% against the dollar and now trades at $0.0470 or 0.00000076 BTC.

Zcash Coin Profile

Zcash 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 message board is forum.z.cash. Zcash’s official website is z.cash. 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.

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 purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. 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