Zcash (ZEC) Hits Market Capitalization of $6.77 Billion

Zcash (ZEC) traded down 7% against the US dollar during the 24-hour period ending at 7:00 AM Eastern on January 16th. Zcash has a market cap of $6.77 billion and approximately $588.94 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be purchased for about $410.73 or 0.00430932 BTC on cryptocurrency exchanges. In the last week, Zcash has traded down 5.3% against the US dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Horizen (ZEN) traded up 0.1% against the dollar and now trades at $12.69 or 0.00013314 BTC.
• Pirate Chain (ARRR) traded 15.5% higher against the dollar and now trades at $0.69 or 0.00000727 BTC.
• Bitcoin Gold (BTG) traded down 35.9% against the dollar and now trades at $0.61 or 0.00000643 BTC.
• Komodo (KMD) traded up 5% against the dollar and now trades at $0.0263 or 0.00000028 BTC.
• ZClassic (ZCL) traded up 9.8% against the dollar and now trades at $0.34 or 0.00000361 BTC.

Zcash Profile

Zcash (ZEC) 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 16,488,760 coins and its circulating supply is 16,488,802 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. 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. 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”

Zcash Coin Trading

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

ZEC/USD price chart by TradingView