Zcash Trading 8% Lower Over Last 7 Days (ZEC)

Zcash (ZEC) traded 3.1% lower against the dollar during the twenty-four hour period ending at 7:00 AM ET on July 31st. Over the last week, Zcash has traded down 8% against the dollar. One Zcash coin can currently be purchased for $459.85 or 0.00721269 BTC on popular cryptocurrency exchanges. Zcash has a market capitalization of $7.72 billion and $303.83 million worth of Zcash was traded on exchanges in the last day.

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

• Horizen (ZEN) traded 0.6% higher against the dollar and now trades at $3.84 or 0.00006026 BTC.
• Pirate Chain (ARRR) traded 0.2% higher against the dollar and now trades at $0.21 or 0.00000326 BTC.
• Bitcoin Gold (BTG) traded down 1.4% against the dollar and now trades at $0.36 or 0.00000568 BTC.
• ZClassic (ZCL) traded up 7.1% against the dollar and now trades at $0.16 or 0.00000243 BTC.
• Komodo (KMD) traded 80.5% lower against the dollar and now trades at $0.0064 or 0.00000010 BTC.

Zcash Coin Profile

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 16,797,836 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. Zcash’s official website is z.cash. Zcash’s official message board 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 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 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 GDAX, 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