Zcash One Day Trading Volume Reaches $172.17 Million (ZEC)

Zcash (ZEC) traded down 1.3% against the US dollar during the 24-hour period ending at 8:00 AM E.T. on August 16th. Over the last week, Zcash has traded 6.9% lower against the US dollar. One Zcash coin can now be bought for $485.07 or 0.00770541 BTC on major cryptocurrency exchanges. Zcash has a total market capitalization of $8.16 billion and approximately $172.17 million worth of Zcash was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Horizen (ZEN) traded down 0.7% against the dollar and now trades at $3.98 or 0.00006330 BTC.
• Pirate Chain (ARRR) traded 5.7% lower against the dollar and now trades at $0.20 or 0.00000318 BTC.
• Bitcoin Gold (BTG) traded 0% lower against the dollar and now trades at $0.39 or 0.00000623 BTC.
• ZClassic (ZCL) traded 22.2% lower against the dollar and now trades at $0.18 or 0.00000279 BTC.
• Komodo (KMD) traded down 65.6% against the dollar and now trades at $0.0059 or 0.00000009 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,822,605 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. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash.

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 currently 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 Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView