Zcash Market Capitalization Hits $7.70 Billion (ZEC)

Zcash (ZEC) traded up 3.4% against the US dollar during the twenty-four hour period ending at 9:00 AM E.T. on July 7th. Zcash has a total market cap of $7.70 billion and approximately $431.90 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be bought for $459.62 or 0.00725173 BTC on exchanges. Over the last week, Zcash has traded up 18% against the US dollar.

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

• Horizen (ZEN) traded 1.1% higher against the dollar and now trades at $4.19 or 0.00006612 BTC.
• Pirate Chain (ARRR) traded down 3.2% against the dollar and now trades at $0.23 or 0.00000366 BTC.
• Bitcoin Gold (BTG) traded 23.3% lower against the dollar and now trades at $0.26 or 0.00000410 BTC.
• ZClassic (ZCL) traded 2.3% lower against the dollar and now trades at $0.18 or 0.00000288 BTC.
• Komodo (KMD) traded 31.1% lower against the dollar and now trades at $0.0079 or 0.00000012 BTC.

About Zcash

Zcash 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 16,760,072 coins and its circulating supply is 16,759,992 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. Zcash’s official message board is forum.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 Coinbase, Gemini or GDAX. 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