Zcash (ZEC) Trading Down 20% Over Last 7 Days

Zcash (ZEC) traded down 8.2% against the U.S. dollar during the 24 hour period ending at 7:00 AM E.T. on May 28th. One Zcash coin can now be bought for $524.78 or 0.00715727 BTC on cryptocurrency exchanges. Zcash has a market capitalization of $8.76 billion and approximately $796.88 million worth of Zcash was traded on exchanges in the last day. In the last week, Zcash has traded down 20% against the U.S. dollar.

Here’s how related cryptocurrencies have performed in the last day:

• Horizen (ZEN) traded 6.9% lower against the dollar and now trades at $5.61 or 0.00007652 BTC.
• Pirate Chain (ARRR) traded 7% lower against the dollar and now trades at $0.34 or 0.00000459 BTC.
• Bitcoin Gold (BTG) traded 20.3% lower against the dollar and now trades at $0.27 or 0.00000368 BTC.
• Komodo (KMD) traded 87.1% lower against the dollar and now trades at $0.0107 or 0.00000015 BTC.
• ZClassic (ZCL) traded 3.1% lower against the dollar and now trades at $0.15 or 0.00000204 BTC.

Zcash Coin Profile

Zcash (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 16,696,914 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 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”

Buying and Selling Zcash

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

ZEC/USD price chart by TradingView