Zcash (ZEC) Hits Market Capitalization of $8.41 Billion

Zcash (ZEC) traded 14.2% higher against the dollar during the twenty-four hour period ending at 7:00 AM Eastern on December 27th. In the last week, Zcash has traded up 14.4% against the dollar. Zcash has a total market cap of $8.41 billion and approximately $731.99 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be purchased for approximately $511.28 or 0.00584823 BTC on major exchanges.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Horizen (ZEN) traded 14.1% higher against the dollar and now trades at $9.10 or 0.00010409 BTC.
• Pirate Chain (ARRR) traded 6.4% lower against the dollar and now trades at $0.26 or 0.00000294 BTC.
• Bitcoin Gold (BTG) traded down 3.1% against the dollar and now trades at $0.52 or 0.00000597 BTC.
• Komodo (KMD) traded 0.5% lower against the dollar and now trades at $0.0366 or 0.00000042 BTC.
• ZClassic (ZCL) traded 10.9% higher against the dollar and now trades at $0.29 or 0.00000330 BTC.

Zcash Coin Profile

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 16,457,335 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 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 Changelly, Gemini or Coinbase. 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