Zcash 1-Day Volume Reaches $1.50 Billion (ZEC)

Zcash (ZEC) traded 10.4% higher against the US dollar during the 24 hour period ending at 8:00 AM Eastern on September 9th. One Zcash coin can currently be purchased for about $1,270.53 or 0.01600953 BTC on exchanges. Zcash has a market capitalization of $21.42 billion and approximately $1.50 billion worth of Zcash was traded on exchanges in the last day. During the last week, Zcash has traded up 59.6% against the US dollar.

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

• Horizen (ZEN) traded 8.1% higher against the dollar and now trades at $7.53 or 0.00009484 BTC.
• Pirate Chain (ARRR) traded down 7.2% against the dollar and now trades at $0.25 or 0.00000311 BTC.
• Bitcoin Gold (BTG) traded 1.5% higher against the dollar and now trades at $0.50 or 0.00000631 BTC.
• ZClassic (ZCL) traded 1.3% higher against the dollar and now trades at $0.26 or 0.00000325 BTC.
• Komodo (KMD) traded up 26.4% against the dollar and now trades at $0.0094 or 0.00000012 BTC.

Zcash Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,860,936 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash. The official message board for Zcash is forum.z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here.

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 buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView