Zcash Tops 24-Hour Trading Volume of $521.35 Million (ZEC)

Zcash (ZEC) traded up 3.7% against the dollar during the twenty-four hour period ending at 7:00 AM E.T. on January 28th. During the last week, Zcash has traded up 9.7% against the dollar. One Zcash coin can now be bought for about $396.65 or 0.00440781 BTC on major cryptocurrency exchanges. Zcash has a market cap of $6.55 billion and approximately $521.35 million worth of Zcash was traded on exchanges in the last day.

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

• Horizen (ZEN) traded 0.7% higher against the dollar and now trades at $9.24 or 0.00010272 BTC.
• Pirate Chain (ARRR) traded 16.7% higher against the dollar and now trades at $0.48 or 0.00000535 BTC.
• Bitcoin Gold (BTG) traded 93.2% higher against the dollar and now trades at $1.15 or 0.00001283 BTC.
• Komodo (KMD) traded 2.5% higher against the dollar and now trades at $0.0346 or 0.00000038 BTC.
• ZClassic (ZCL) traded up 46% against the dollar and now trades at $0.27 or 0.00000301 BTC.

About Zcash

Zcash (CRYPTO: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 16,507,794 coins and its circulating supply is 16,507,825 coins. Zcash’s official message board is forum.z.cash. 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.

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 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 Changelly, 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