Zcash Price Hits $584.14 on Major Exchanges (ZEC)

Zcash (ZEC) traded 4.5% higher against the dollar during the 24 hour period ending at 7:00 AM Eastern on May 20th. Zcash has a total market capitalization of $9.75 billion and $627.64 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for approximately $584.14 or 0.00755045 BTC on popular exchanges. During the last week, Zcash has traded up 6.2% against the dollar.

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

• Horizen (ZEN) traded up 5.4% against the dollar and now trades at $6.32 or 0.00008174 BTC.
• Pirate Chain (ARRR) traded up 0.2% against the dollar and now trades at $0.23 or 0.00000303 BTC.
• Komodo (KMD) traded down 1.6% against the dollar and now trades at $0.0740 or 0.00000095 BTC.
• Bitcoin Gold (BTG) traded 0% lower against the dollar and now trades at $0.32 or 0.00000413 BTC.
• ZClassic (ZCL) traded 0.8% higher against the dollar and now trades at $0.16 or 0.00000211 BTC.

Zcash Coin Profile

Zcash (CRYPTO:ZEC) 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 16,684,309 coins and its circulating supply is 16,684,349 coins. 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. Zcash’s official website is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible 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.”

Zcash Coin Trading

It is usually not 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 GDAX, Gemini or Changelly. 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