Zcash Market Cap Hits $8.28 Billion (ZEC)

Zcash (ZEC) traded 3.4% lower against the US dollar during the 1 day period ending at 7:00 AM Eastern on June 17th. One Zcash coin can currently be bought for approximately $495.77 or 0.00765976 BTC on exchanges. Zcash has a market cap of $8.28 billion and $783.71 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last seven days, Zcash has traded up 19.7% against the US dollar.

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

• Horizen (ZEN) traded down 4.4% against the dollar and now trades at $4.54 or 0.00007012 BTC.
• Pirate Chain (ARRR) traded 0.4% higher against the dollar and now trades at $0.30 or 0.00000464 BTC.
• Bitcoin Gold (BTG) traded 3.6% higher against the dollar and now trades at $0.28 or 0.00000440 BTC.
• ZClassic (ZCL) traded up 4.6% against the dollar and now trades at $0.16 or 0.00000244 BTC.
• Komodo (KMD) traded 64.7% lower against the dollar and now trades at $0.0056 or 0.00000009 BTC.

About Zcash

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

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 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 GDAX, Coinbase 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