Zcash (ZEC) Reaches 24 Hour Trading Volume of $1.17 Billion

Zcash (ZEC) traded down 18.5% against the dollar during the 1-day period ending at 7:00 AM Eastern on January 8th. One Zcash coin can now be purchased for approximately $397.74 or 0.00442640 BTC on exchanges. Zcash has a market capitalization of $6.55 billion and $1.17 billion worth of Zcash was traded on exchanges in the last 24 hours. In the last seven days, Zcash has traded down 24.8% against the dollar.

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

• Horizen (ZEN) traded 5.5% lower against the dollar and now trades at $8.89 or 0.00009894 BTC.
• Pirate Chain (ARRR) traded down 2.2% against the dollar and now trades at $0.25 or 0.00000274 BTC.
• Bitcoin Gold (BTG) traded 29.7% lower against the dollar and now trades at $0.68 or 0.00000754 BTC.
• Komodo (KMD) traded down 38.5% against the dollar and now trades at $0.0243 or 0.00000027 BTC.
• ZClassic (ZCL) traded 3.6% higher against the dollar and now trades at $0.35 or 0.00000389 BTC.

About Zcash

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 16,476,046 coins and its circulating supply is 16,476,281 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official message board is forum.z.cash. 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”

Zcash Coin Trading

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

ZEC/USD price chart by TradingView