Zcash Achieves Market Cap of $485.26 Million (ZEC)

Zcash (ZEC) traded up 1.3% against the US dollar during the 24-hour period ending at 10:00 AM ET on March 22nd. Over the last seven days, Zcash has traded 4.6% lower against the US dollar. One Zcash coin can now be purchased for approximately $30.55 or 0.00036285 BTC on exchanges. Zcash has a total market cap of $485.26 million and $74.27 million worth of Zcash was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Horizen (ZEN) traded up 0.3% against the dollar and now trades at $8.93 or 0.00010611 BTC.
• Bitcoin Gold (BTG) traded 7.4% lower against the dollar and now trades at $3.05 or 0.00003627 BTC.
• Pirate Chain (ARRR) traded down 1.1% against the dollar and now trades at $0.13 or 0.00000153 BTC.
• Komodo (KMD) traded 4.7% higher against the dollar and now trades at $0.17 or 0.00000207 BTC.
• ZClassic (ZCL) traded up 0.3% against the dollar and now trades at $0.0724 or 0.00000086 BTC.

Zcash 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 15,905,531 coins and its circulating supply is 15,886,821 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 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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView