Zcash (ZEC) Reaches Market Capitalization of $474.71 Million

Zcash (ZEC) traded up 4.1% against the U.S. dollar during the 24 hour period ending at 22:00 PM ET on October 6th. Over the last week, Zcash has traded up 1.6% against the U.S. dollar. Zcash has a market capitalization of $474.71 million and $75.16 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be purchased for $29.07 or 0.00045665 BTC on popular cryptocurrency exchanges.

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

• Bitcoin Gold (BTG) traded 1% higher against the dollar and now trades at $22.69 or 0.00035634 BTC.
• Horizen (ZEN) traded up 6.3% against the dollar and now trades at $8.04 or 0.00012633 BTC.
• Pirate Chain (ARRR) traded 2% higher against the dollar and now trades at $0.18 or 0.00000281 BTC.
• Komodo (KMD) traded up 4.4% against the dollar and now trades at $0.26 or 0.00000402 BTC.
• ZClassic (ZCL) traded 0.6% higher against the dollar and now trades at $0.0493 or 0.00000077 BTC.

About Zcash

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis 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. 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 website is 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 currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView