Zcash (ZEC) Trading 7.1% Higher Over Last Week

Zcash (ZEC) traded 4.4% lower against the US dollar during the 24 hour period ending at 8:00 AM ET on June 21st. One Zcash coin can currently be bought for $451.70 or 0.00705697 BTC on popular exchanges. Zcash has a total market capitalization of $7.55 billion and approximately $380.70 million worth of Zcash was traded on exchanges in the last day. During the last seven days, Zcash has traded 7.1% higher against the US dollar.

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

• Horizen (ZEN) traded down 0.1% against the dollar and now trades at $4.64 or 0.00007252 BTC.
• Pirate Chain (ARRR) traded 8.2% lower against the dollar and now trades at $0.30 or 0.00000465 BTC.
• Komodo (KMD) traded up 291.5% against the dollar and now trades at $0.10 or 0.00000157 BTC.
• Bitcoin Gold (BTG) traded up 37.8% against the dollar and now trades at $0.30 or 0.00000461 BTC.
• ZClassic (ZCL) traded 0.8% lower against the dollar and now trades at $0.17 or 0.00000266 BTC.

Zcash 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 16,707,875 coins. 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. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

According to CryptoCompare, “Zcash (ZEC) is the native coin of the Zcash blockchain, a proof-of-work network (Equihash) with a capped supply of 21 million ZEC. It supports transparent transactions, where amounts are visible on-chain, and shielded transactions that use zero-knowledge proofs (zk-SNARKs) to validate payments without publishing the sender, recipient and amount. Zcash’s privacy features include shielded pools (Sprout legacy, Sapling and Orchard), Unified Addresses that bundle multiple receiver types and selective disclosure tools such as viewing keys and payment disclosures. ZEC is used to transfer value and pay transaction fees. New ZEC is issued through the block subsidy; since the 2024 halving, a portion of block rewards has been allocated to development funding streams defined by network upgrades and ZIPs, including Zcash Community Grants and a lockbox seeded coinholder-controlled fund.”

Zcash Coin Trading

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, Coinbase or Gemini. 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