Zcash Market Cap Tops $673.78 Million (ZEC)

Zcash (ZEC) traded down 2.4% against the US dollar during the 24-hour period ending at 0:00 AM ET on August 21st. One Zcash coin can now be purchased for approximately $41.26 or 0.00068039 BTC on exchanges. Zcash has a total market cap of $673.78 million and $75.51 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded 3.1% lower against the US dollar.

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

• Bitcoin Gold (BTG) traded up 0.5% against the dollar and now trades at $22.81 or 0.00037604 BTC.
• Horizen (ZEN) traded 2.5% higher against the dollar and now trades at $7.85 or 0.00012936 BTC.
• Komodo (KMD) traded up 2.8% against the dollar and now trades at $0.26 or 0.00000435 BTC.
• Pirate Chain (ARRR) traded 5.4% higher against the dollar and now trades at $0.17 or 0.00000275 BTC.
• ZClassic (ZCL) traded up 4.4% against the dollar and now trades at $0.0667 or 0.00000110 BTC.

Zcash 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 16,328,269 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash. Zcash’s official message board 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.

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 acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView