Zcash Price Tops $488.51 on Major Exchanges (ZEC)

Zcash (ZEC) traded up 1.3% against the dollar during the one day period ending at 7:00 AM ET on August 4th. Over the last week, Zcash has traded up 5.1% against the dollar. Zcash has a total market cap of $8.21 billion and approximately $266.05 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be purchased for approximately $488.51 or 0.00764765 BTC on exchanges.

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

• Horizen (ZEN) traded 2.4% lower against the dollar and now trades at $4.09 or 0.00006398 BTC.
• Pirate Chain (ARRR) traded up 9.6% against the dollar and now trades at $0.23 or 0.00000358 BTC.
• Bitcoin Gold (BTG) traded 39.2% lower against the dollar and now trades at $0.36 or 0.00000569 BTC.
• Komodo (KMD) traded up 59.8% against the dollar and now trades at $0.0261 or 0.00000041 BTC.
• ZClassic (ZCL) traded 4.6% lower against the dollar and now trades at $0.15 or 0.00000229 BTC.

Zcash Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 16,804,149 coins. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. 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.

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, Changelly 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