Zcash Market Capitalization Hits $8.36 Billion (ZEC)

Zcash (ZEC) traded 6.1% lower against the U.S. dollar during the twenty-four hour period ending at 7:00 AM E.T. on May 16th. In the last seven days, Zcash has traded 16.6% lower against the U.S. dollar. Zcash has a market cap of $8.36 billion and approximately $432.05 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for $501.25 or 0.00641566 BTC on major exchanges.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Horizen (ZEN) traded 9.2% lower against the dollar and now trades at $5.87 or 0.00007518 BTC.
• Pirate Chain (ARRR) traded up 10.1% against the dollar and now trades at $0.23 or 0.00000293 BTC.
• Komodo (KMD) traded up 17.9% against the dollar and now trades at $0.0747 or 0.00000096 BTC.
• Bitcoin Gold (BTG) traded up 0.3% against the dollar and now trades at $0.44 or 0.00000564 BTC.
• ZClassic (ZCL) traded down 3% against the dollar and now trades at $0.16 or 0.00000211 BTC.

Zcash Coin Profile

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 16,677,844 coins and its circulating supply is 16,677,920 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 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 possible to buy alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase 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