Zcash (ZEC) Trading 8.5% Lower Over Last Week

Zcash (ZEC) traded down 4.8% against the U.S. dollar during the 1 day period ending at 8:00 AM Eastern on October 7th. One Zcash coin can now be purchased for $1,305.24 or 0.01563133 BTC on cryptocurrency exchanges. Zcash has a total market capitalization of $22.07 billion and $763.79 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last week, Zcash has traded 8.5% lower against the U.S. dollar.

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

• Horizen (ZEN) traded 7.7% lower against the dollar and now trades at $6.62 or 0.00007924 BTC.
• Pirate Chain (ARRR) traded 5% lower against the dollar and now trades at $0.29 or 0.00000352 BTC.
• Bitcoin Gold (BTG) traded 4.2% lower against the dollar and now trades at $0.64 or 0.00000763 BTC.
• ZClassic (ZCL) traded 1.5% lower against the dollar and now trades at $0.86 or 0.00001030 BTC.
• Komodo (KMD) traded down 73.9% against the dollar and now trades at $0.0205 or 0.00000025 BTC.

Zcash Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,905,063 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. 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 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 presently possible to buy alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView