Zcash 1-Day Trading Volume Hits $267.49 Million (ZEC)

Zcash (ZEC) traded 2.4% lower against the U.S. dollar during the 24 hour period ending at 7:00 AM ET on August 8th. During the last seven days, Zcash has traded up 7.4% against the U.S. dollar. Zcash has a market capitalization of $8.37 billion and $267.49 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be purchased for about $498.05 or 0.00767118 BTC on popular exchanges.

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

• Horizen (ZEN) traded up 0.6% against the dollar and now trades at $4.07 or 0.00006276 BTC.
• Pirate Chain (ARRR) traded 0.4% higher against the dollar and now trades at $0.24 or 0.00000363 BTC.
• Bitcoin Gold (BTG) traded up 38.4% against the dollar and now trades at $0.40 or 0.00000618 BTC.
• Komodo (KMD) traded 198.1% higher against the dollar and now trades at $0.0174 or 0.00000027 BTC.
• ZClassic (ZCL) traded 0.9% higher against the dollar and now trades at $0.17 or 0.00000260 BTC.

Zcash Coin Profile

Zcash (CRYPTO: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 16,810,452 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 Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash. 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 presently 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, Changelly or GDAX. 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