Zcash (ZEC) Reaches Market Cap of $9.52 Billion

Zcash (ZEC) traded 11.7% higher against the US dollar during the twenty-four hour period ending at 8:00 AM E.T. on August 20th. Over the last week, Zcash has traded up 15.6% against the US dollar. Zcash has a total market cap of $9.52 billion and $782.97 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be purchased for approximately $565.88 or 0.00791100 BTC on exchanges.

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

• Horizen (ZEN) traded 10% higher against the dollar and now trades at $4.24 or 0.00005923 BTC.
• Pirate Chain (ARRR) traded up 5.8% against the dollar and now trades at $0.19 or 0.00000264 BTC.
• Bitcoin Gold (BTG) traded up 12.7% against the dollar and now trades at $0.45 or 0.00000629 BTC.
• ZClassic (ZCL) traded up 50% against the dollar and now trades at $0.27 or 0.00000377 BTC.
• Komodo (KMD) traded 79.1% higher against the dollar and now trades at $0.0115 or 0.00000016 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 16,829,373 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash.

According to CryptoCompare, “ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. ZCash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of double-spending. The only information that is revealed regarding transactions is the time in which they take place. Blockchain data provided by: Blockchair (Main Source), Zchain Explorer (Backup)Telegram”

Buying and Selling Zcash

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

ZEC/USD price chart by TradingView