Zcash (ZEC) Achieves Market Cap of $3.97 Billion

Zcash (ZEC) traded down 13.8% against the U.S. dollar during the 1-day period ending at 8:00 AM Eastern on February 5th. One Zcash coin can currently be bought for about $240.53 or 0.00341614 BTC on popular exchanges. Zcash has a market capitalization of $3.97 billion and approximately $490.85 million worth of Zcash was traded on exchanges in the last 24 hours. In the last week, Zcash has traded 33.5% lower against the U.S. dollar.

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

• Horizen (ZEN) traded down 7.6% against the dollar and now trades at $6.38 or 0.00009058 BTC.
• Pirate Chain (ARRR) traded down 17.2% against the dollar and now trades at $0.31 or 0.00000436 BTC.
• Bitcoin Gold (BTG) traded down 47.3% 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.

Zcash Profile

Zcash 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 16,520,405 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 Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash. 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 U.S. dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView