Zcash (ZEC) Tops One Day Trading Volume of $42.02 Million

Zcash (ZEC) traded 0.2% higher against the U.S. dollar during the 1-day period ending at 15:00 PM E.T. on May 4th. One Zcash coin can now be purchased for $23.22 or 0.00036489 BTC on major cryptocurrency exchanges. During the last seven days, Zcash has traded 1.1% higher against the U.S. dollar. Zcash has a total market cap of $379.15 million and $42.02 million worth of Zcash was traded on exchanges in the last day.

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

• Bitcoin Gold (BTG) traded up 9.3% against the dollar and now trades at $37.02 or 0.00058170 BTC.
• Horizen (ZEN) traded up 1.7% against the dollar and now trades at $8.86 or 0.00013921 BTC.
• Pirate Chain (ARRR) traded 13.4% higher against the dollar and now trades at $0.36 or 0.00000572 BTC.
• Komodo (KMD) traded up 1.1% against the dollar and now trades at $0.42 or 0.00000661 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded up 6% against the dollar and now trades at $0.0573 or 0.00000090 BTC.

Zcash Coin Profile

Zcash (CRYPTO: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 16,328,269 coins. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. 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.

According to CryptoCompare, “ZCash (ZEC) is a digital currency and decentralized open-source cryptocurrency, launched in 2016. It provides users with enhanced privacy and selective transparency of transactions. ZCash is based on the zero-knowledge proof protocol known as zk-SNARKs. This protocol allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Transactions can be audited, verified and tracked without revealing the sender, receiver or transaction amount. ZEC is an inflationary currency, with a maximum supply of 21 million coins. It is accepted by a growing number of merchants, exchanges and other services.”

Zcash Coin Trading

It is usually not 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 GDAX, Changelly or Coinbase. 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