Zcash (ZEC) Reaches Market Cap of $453.34 Million

Zcash (ZEC) traded 2.8% higher against the US dollar during the 24 hour period ending at 20:00 PM E.T. on September 7th. One Zcash coin can currently be bought for $27.76 or 0.00051301 BTC on exchanges. Zcash has a total market capitalization of $453.34 million and $49.27 million worth of Zcash was traded on exchanges in the last day. In the last week, Zcash has traded down 14.3% against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

• Bitcoin Gold (BTG) traded down 0.2% against the dollar and now trades at $20.38 or 0.00037655 BTC.
• Horizen (ZEN) traded 2.4% higher against the dollar and now trades at $8.02 or 0.00014815 BTC.
• Pirate Chain (ARRR) traded 2.1% lower against the dollar and now trades at $0.17 or 0.00000309 BTC.
• Komodo (KMD) traded up 1.4% against the dollar and now trades at $0.23 or 0.00000422 BTC.
• ZClassic (ZCL) traded up 0.3% against the dollar and now trades at $0.0449 or 0.00000083 BTC.

About Zcash

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. The official message board for Zcash is forum.z.cash. The official website for Zcash is 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 Twitter account is @electriccoinco and its Facebook page is accessible here.

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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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