Zcash (ZEC) Hits Market Cap of $376.22 Million

Zcash (ZEC) traded 0.9% lower against the dollar during the 1-day period ending at 15:00 PM E.T. on May 5th. Zcash has a market cap of $376.22 million and $42.07 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last seven days, Zcash has traded down 0.6% against the dollar. One Zcash coin can now be purchased for $23.04 or 0.00036014 BTC on popular exchanges.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Bitcoin Gold (BTG) traded 1.7% higher against the dollar and now trades at $37.66 or 0.00058859 BTC.
• Horizen (ZEN) traded 2.2% higher against the dollar and now trades at $9.06 or 0.00014154 BTC.
• Pirate Chain (ARRR) traded 5.2% lower against the dollar and now trades at $0.34 or 0.00000539 BTC.
• Komodo (KMD) traded 4.8% lower against the dollar and now trades at $0.40 or 0.00000626 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded 0.9% higher against the dollar and now trades at $0.0578 or 0.00000090 BTC.

Zcash Coin Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. The official message board for Zcash is forum.z.cash. Zcash’s official website is z.cash. 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.

According to CryptoCompare, “ZCash (ZEC) is a digital currency and decentralized open-source cryptocurrency, launched in 2016. It provides users with enhanced privacy and selective transparency of transactions. ZCash is based on the zero-knowledge proof protocol known as zk-SNARKs. This protocol allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Transactions can be audited, verified and tracked without revealing the sender, receiver or transaction amount. ZEC is an inflationary currency, with a maximum supply of 21 million coins. It is accepted by a growing number of merchants, exchanges and other services.”

Buying and Selling Zcash

It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView