Zcash Trading Down 33.5% This Week (ZEC)

Zcash (ZEC) traded down 13.8% against the dollar during the one day period ending at 8:00 AM E.T. on February 5th. Zcash has a market capitalization of $3.97 billion and $490.85 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be bought for $240.53 or 0.00341614 BTC on popular cryptocurrency exchanges. During the last week, Zcash has traded 33.5% lower against the dollar.

Here is how related cryptocurrencies have performed during the last 24 hours:

• Horizen (ZEN) traded 7.6% lower against the dollar and now trades at $6.38 or 0.00009058 BTC.
• Pirate Chain (ARRR) traded 17.2% lower against the dollar and now trades at $0.31 or 0.00000436 BTC.
• Bitcoin Gold (BTG) traded 47.3% lower against the dollar and now trades at $0.50 or 0.00000708 BTC.
• Komodo (KMD) traded down 4.9% against the dollar and now trades at $0.0249 or 0.00000035 BTC.
• ZClassic (ZCL) traded down 7.1% against the dollar and now trades at $0.21 or 0.00000302 BTC.

About Zcash

Zcash (CRYPTO: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 16,520,405 coins. 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. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible 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 purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView