Zcash (ZEC) One Day Trading Volume Tops $2.92 Billion

Zcash (ZEC) traded 10.9% higher against the U.S. dollar during the 1 day period ending at 8:00 AM E.T. on September 17th. One Zcash coin can now be purchased for approximately $1,361.98 or 0.01782049 BTC on major exchanges. During the last week, Zcash has traded 11.8% higher against the U.S. dollar. Zcash has a market capitalization of $22.98 billion and approximately $2.92 billion worth of Zcash was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed during the last day:

• Horizen (ZEN) traded up 6.3% against the dollar and now trades at $6.93 or 0.00009066 BTC.
• Pirate Chain (ARRR) traded down 6.6% against the dollar and now trades at $0.22 or 0.00000290 BTC.
• ZClassic (ZCL) traded 43.5% higher against the dollar and now trades at $1.11 or 0.00001451 BTC.
• Bitcoin Gold (BTG) traded 0.2% higher against the dollar and now trades at $0.47 or 0.00000621 BTC.
• Komodo (KMD) traded 124.4% higher against the dollar and now trades at $0.0093 or 0.00000012 BTC.

About Zcash

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 16,873,538 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official website is z.cash. 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.”

Buying and Selling Zcash

It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView