Zcash Trading Up 65.8% Over Last Week (ZEC)

Zcash (ZEC) traded 3.8% higher against the dollar during the 1-day period ending at 8:00 AM ET on August 24th. One Zcash coin can now be bought for $847.19 or 0.01080664 BTC on popular exchanges. Zcash has a total market cap of $14.26 billion and approximately $1.56 billion worth of Zcash was traded on exchanges in the last 24 hours. In the last week, Zcash has traded 65.8% higher against the dollar.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Horizen (ZEN) traded 2.3% higher against the dollar and now trades at $5.55 or 0.00007080 BTC.
• Pirate Chain (ARRR) traded up 3.1% against the dollar and now trades at $0.23 or 0.00000287 BTC.
• Bitcoin Gold (BTG) traded up 1.5% against the dollar and now trades at $0.50 or 0.00000641 BTC.
• Komodo (KMD) traded 679% higher against the dollar and now trades at $0.0574 or 0.00000073 BTC.
• ZClassic (ZCL) traded 5.3% higher against the dollar and now trades at $0.23 or 0.00000297 BTC.

Zcash Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,835,715 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. The official website for Zcash is z.cash. The official message board for Zcash is forum.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.”

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 trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. 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