Zcash (ZEC) Price Hits $469.86 on Major Exchanges

Zcash (ZEC) traded up 8.4% against the dollar during the 1-day period ending at 8:00 AM ET on June 9th. Zcash has a market cap of $7.85 billion and $1.06 billion worth of Zcash was traded on exchanges in the last day. During the last week, Zcash has traded 17.1% lower against the dollar. One Zcash coin can now be purchased for about $469.86 or 0.00750460 BTC on exchanges.

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

• Horizen (ZEN) traded down 1.1% against the dollar and now trades at $4.44 or 0.00007089 BTC.
• Pirate Chain (ARRR) traded 1.3% higher against the dollar and now trades at $0.28 or 0.00000445 BTC.
• Bitcoin Gold (BTG) traded up 30.2% against the dollar and now trades at $0.34 or 0.00000540 BTC.
• Komodo (KMD) traded 22.5% lower against the dollar and now trades at $0.0356 or 0.00000057 BTC.
• ZClassic (ZCL) traded 7.6% lower against the dollar and now trades at $0.17 or 0.00000264 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 16,707,875 coins. 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. 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 U.S. dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX 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