Zcash (ZEC) Market Capitalization Tops $698.79 Million

Zcash (ZEC) traded 2.5% higher against the dollar during the 24 hour period ending at 19:00 PM E.T. on August 24th. Zcash has a market capitalization of $698.79 million and $80.83 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last seven days, Zcash has traded 1.3% lower against the dollar. One Zcash coin can now be purchased for $42.80 or 0.00066945 BTC on cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Bitcoin Gold (BTG) traded 0.1% lower against the dollar and now trades at $24.12 or 0.00037724 BTC.
• Horizen (ZEN) traded 2.2% higher against the dollar and now trades at $8.94 or 0.00013989 BTC.
• Komodo (KMD) traded 1.1% lower against the dollar and now trades at $0.28 or 0.00000434 BTC.
• Pirate Chain (ARRR) traded 1.6% higher against the dollar and now trades at $0.18 or 0.00000284 BTC.
• ZClassic (ZCL) traded 13.9% higher against the dollar and now trades at $0.0789 or 0.00000123 BTC.

About Zcash

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 16,328,269 coins. Zcash’s official message board is forum.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. The official website for Zcash 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.”

Buying and Selling Zcash

It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView