Zcash (ZEC) Price Down 8% This Week

Zcash (ZEC) traded up 2.3% against the US dollar during the 1-day period ending at 7:00 AM ET on January 24th. During the last week, Zcash has traded 8% lower against the US dollar. Zcash has a total market cap of $6.14 billion and approximately $399.85 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be purchased for approximately $372.11 or 0.00415689 BTC on major cryptocurrency exchanges.

Here is how related cryptocurrencies have performed during the last day:

• Horizen (ZEN) traded 2.8% lower against the dollar and now trades at $10.04 or 0.00011220 BTC.
• Pirate Chain (ARRR) traded 2.4% lower against the dollar and now trades at $0.42 or 0.00000470 BTC.
• Bitcoin Gold (BTG) traded down 1.1% against the dollar and now trades at $0.62 or 0.00000695 BTC.
• Komodo (KMD) traded up 0.8% against the dollar and now trades at $0.0254 or 0.00000028 BTC.
• ZClassic (ZCL) traded 14.7% lower against the dollar and now trades at $0.25 or 0.00000279 BTC.

About Zcash

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 16,498,831 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 Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash. Zcash’s official website 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 purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView