Zcash (ZEC) Market Capitalization Reaches $22.15 Billion

Zcash (ZEC) traded down 5% against the US dollar during the one day period ending at 8:00 AM Eastern on October 3rd. Zcash has a market cap of $22.15 billion and $827.80 million worth of Zcash was traded on exchanges in the last day. In the last week, Zcash has traded down 15.2% against the US dollar. One Zcash coin can now be purchased for approximately $1,310.66 or 0.01547911 BTC on popular exchanges.

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

• Horizen (ZEN) traded 3.8% lower against the dollar and now trades at $6.86 or 0.00008107 BTC.
• Pirate Chain (ARRR) traded 2.4% higher against the dollar and now trades at $0.30 or 0.00000357 BTC.
• ZClassic (ZCL) traded 15.5% higher against the dollar and now trades at $1.09 or 0.00001292 BTC.
• Bitcoin Gold (BTG) traded 54.7% lower against the dollar and now trades at $0.41 or 0.00000480 BTC.
• Komodo (KMD) traded down 74.4% against the dollar and now trades at $0.0200 or 0.00000024 BTC.

Zcash Coin Profile

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 16,898,753 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 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 trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. 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