Zcash (ZEC) One Day Trading Volume Tops $1.06 Billion

Zcash (ZEC) traded up 8.4% against the dollar during the 1 day period ending at 8:00 AM ET on June 9th. Over the last seven days, Zcash has traded 17.1% lower against the dollar. One Zcash coin can currently be purchased for about $469.86 or 0.00750460 BTC on cryptocurrency exchanges. Zcash has a market cap of $7.85 billion and approximately $1.06 billion worth of Zcash was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Horizen (ZEN) traded down 1.1% against the dollar and now trades at $4.44 or 0.00007089 BTC.
• Pirate Chain (ARRR) traded 1.3% higher against the dollar and now trades at $0.28 or 0.00000445 BTC.
• Bitcoin Gold (BTG) traded up 30.2% against the dollar and now trades at $0.34 or 0.00000540 BTC.
• Komodo (KMD) traded down 22.5% against the dollar and now trades at $0.0356 or 0.00000057 BTC.
• ZClassic (ZCL) traded 7.6% lower against the dollar and now trades at $0.17 or 0.00000264 BTC.

Zcash Coin Profile

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 16,707,875 coins. The official message board for Zcash is forum.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. Zcash’s official website is z.cash.

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 U.S. dollars. Investors seeking to trade 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 aforementioned exchanges.

ZEC/USD price chart by TradingView