Zcash Tops 24 Hour Trading Volume of $962.60 Million (ZEC)

Zcash (ZEC) traded 3.9% higher against the US dollar during the 1-day period ending at 7:00 AM ET on May 4th. One Zcash coin can currently be purchased for $407.39 or 0.00516950 BTC on cryptocurrency exchanges. Zcash has a total market capitalization of $6.79 billion and $962.60 million worth of Zcash was traded on exchanges in the last day. During the last week, Zcash has traded up 14% against the US dollar.

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

• Horizen (ZEN) traded 10.5% higher against the dollar and now trades at $7.20 or 0.00009131 BTC.
• Pirate Chain (ARRR) traded up 8.5% against the dollar and now trades at $0.22 or 0.00000274 BTC.
• Bitcoin Gold (BTG) traded down 0% against the dollar and now trades at $0.52 or 0.00000660 BTC.
• ZClassic (ZCL) traded 25.9% lower against the dollar and now trades at $0.17 or 0.00000222 BTC.
• Komodo (KMD) traded down 0% against the dollar and now trades at $0.0029 or 0.00000004 BTC.

Zcash Coin Profile

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 16,659,128 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 presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView