Zcash Reaches 24-Hour Trading Volume of $362.42 Million (ZEC)

Zcash (ZEC) traded 0.7% lower against the US dollar during the one day period ending at 7:00 AM E.T. on June 29th. One Zcash coin can now be bought for about $382.85 or 0.00640296 BTC on popular exchanges. Zcash has a market capitalization of $6.41 billion and approximately $362.42 million worth of Zcash was traded on exchanges in the last day. Over the last week, Zcash has traded down 15.7% against the US dollar.

Here is how other cryptocurrencies have performed over the last day:

• Horizen (ZEN) traded down 0.1% against the dollar and now trades at $4.09 or 0.00006837 BTC.
• Pirate Chain (ARRR) traded down 1.5% against the dollar and now trades at $0.24 or 0.00000409 BTC.
• Bitcoin Gold (BTG) traded down 4% against the dollar and now trades at $0.24 or 0.00000401 BTC.
• ZClassic (ZCL) traded down 4.2% against the dollar and now trades at $0.18 or 0.00000302 BTC.
• Komodo (KMD) traded 93.5% lower against the dollar and now trades at $0.0087 or 0.00000015 BTC.

About Zcash

Zcash (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 16,747,382 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 message board is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

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, Changelly 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