Zcash Trading 8% Lower Over Last 7 Days (ZEC)

Zcash (ZEC) traded 3.1% lower against the dollar during the one day period ending at 7:00 AM Eastern on July 31st. Zcash has a market capitalization of $7.72 billion and $303.83 million worth of Zcash was traded on exchanges in the last 24 hours. During the last seven days, Zcash has traded 8% lower against the dollar. One Zcash coin can now be purchased for $459.85 or 0.00721269 BTC on cryptocurrency exchanges.

Here’s how other cryptocurrencies have performed during the last 24 hours:

• Horizen (ZEN) traded 0.6% higher against the dollar and now trades at $3.84 or 0.00006026 BTC.
• Pirate Chain (ARRR) traded up 0.2% against the dollar and now trades at $0.21 or 0.00000326 BTC.
• Bitcoin Gold (BTG) traded 1.4% lower against the dollar and now trades at $0.36 or 0.00000568 BTC.
• ZClassic (ZCL) traded 7.1% higher against the dollar and now trades at $0.16 or 0.00000243 BTC.
• Komodo (KMD) traded down 80.5% against the dollar and now trades at $0.0064 or 0.00000010 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,797,836 coins. Zcash’s official website is z.cash. The official message board for Zcash is forum.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 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 buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView