Zcash (ZEC) Price Down 6.5% This Week

Zcash (ZEC) traded up 2% against the dollar during the 1-day period ending at 7:00 AM Eastern on July 27th. One Zcash coin can currently be purchased for approximately $502.67 or 0.00772621 BTC on popular cryptocurrency exchanges. Zcash has a total market capitalization of $8.44 billion and approximately $348.95 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded 6.5% lower against the dollar.

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

• Horizen (ZEN) traded 0.2% higher against the dollar and now trades at $4.12 or 0.00006328 BTC.
• Pirate Chain (ARRR) traded 1.3% higher against the dollar and now trades at $0.22 or 0.00000332 BTC.
• Bitcoin Gold (BTG) traded down 45.3% against the dollar and now trades at $0.23 or 0.00000359 BTC.
• ZClassic (ZCL) traded up 6.7% against the dollar and now trades at $0.16 or 0.00000251 BTC.
• Komodo (KMD) traded 10.2% higher against the dollar and now trades at $0.0075 or 0.00000012 BTC.

Zcash Coin Profile

Zcash 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 16,791,530 coins. 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. The official website for Zcash is z.cash. Zcash’s official message board is forum.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”

Zcash Coin Trading

It is usually not currently 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 Coinbase. 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