Zcash Price Tops $238.24 on Major Exchanges (ZEC)

Zcash (ZEC) traded up 3.1% against the U.S. dollar during the 24-hour period ending at 7:00 AM ET on March 25th. One Zcash coin can now be bought for about $238.24 or 0.00331788 BTC on popular cryptocurrency exchanges. Zcash has a total market cap of $3.95 billion and $484.37 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded 12.3% lower against the U.S. dollar.

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

• Horizen (ZEN) traded up 0.8% against the dollar and now trades at $5.71 or 0.00007949 BTC.
• Pirate Chain (ARRR) traded down 11.4% against the dollar and now trades at $0.22 or 0.00000305 BTC.
• Bitcoin Gold (BTG) traded down 35.7% against the dollar and now trades at $0.77 or 0.00001078 BTC.
• ZClassic (ZCL) traded up 0.8% against the dollar and now trades at $0.22 or 0.00000300 BTC.
• Komodo (KMD) traded down 27.8% against the dollar and now trades at $0.0130 or 0.00000018 BTC.

Zcash 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 16,596,084 coins and its circulating supply is 16,596,023 coins. Zcash’s official website is 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. The official message board for Zcash is forum.z.cash.

According to CryptoCompare, “Zcash (ZEC) is the native coin of the Zcash blockchain, a proof-of-work network (Equihash) with a capped supply of 21 million ZEC. It supports transparent transactions, where amounts are visible on-chain, and shielded transactions that use zero-knowledge proofs (zk-SNARKs) to validate payments without publishing the sender, recipient and amount. Zcash’s privacy features include shielded pools (Sprout legacy, Sapling and Orchard), Unified Addresses that bundle multiple receiver types and selective disclosure tools such as viewing keys and payment disclosures. ZEC is used to transfer value and pay transaction fees. New ZEC is issued through the block subsidy; since the 2024 halving, a portion of block rewards has been allocated to development funding streams defined by network upgrades and ZIPs, including Zcash Community Grants and a lockbox seeded coinholder-controlled fund.”

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 acquire Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. 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