Zcash Market Capitalization Achieves $780.22 Million (ZEC)

Zcash (ZEC) traded down 1.1% against the US dollar during the 24-hour period ending at 10:00 AM Eastern on January 13th. One Zcash coin can currently be purchased for about $47.78 or 0.00051862 BTC on major exchanges. In the last seven days, Zcash has traded down 20.6% against the US dollar. Zcash has a market cap of $780.22 million and approximately $98.70 million worth of Zcash was traded on exchanges in the last day.

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

• Horizen (ZEN) traded 14.2% lower against the dollar and now trades at $19.87 or 0.00021567 BTC.
• Bitcoin Gold (BTG) traded down 1.7% against the dollar and now trades at $12.01 or 0.00013040 BTC.
• Komodo (KMD) traded 7.7% lower against the dollar and now trades at $0.28 or 0.00000299 BTC.
• Pirate Chain (ARRR) traded 4.5% lower against the dollar and now trades at $0.19 or 0.00000201 BTC.
• ZClassic (ZCL) traded down 3% against the dollar and now trades at $0.0395 or 0.00000043 BTC.

About Zcash

Zcash (CRYPTO:ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis 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. Zcash’s official message board is forum.z.cash. Zcash’s official website is 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 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 US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. 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