Zcash (ZEC) Hits Market Cap of $629.15 Million

Zcash (ZEC) traded 4.4% higher against the dollar during the 1 day period ending at 23:00 PM E.T. on November 1st. One Zcash coin can now be bought for approximately $38.53 or 0.00055239 BTC on major cryptocurrency exchanges. Zcash has a total market capitalization of $629.15 million and $72.45 million worth of Zcash was traded on exchanges in the last 24 hours. During the last seven days, Zcash has traded 6.6% higher against the dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Bitcoin Gold (BTG) traded up 2% against the dollar and now trades at $22.53 or 0.00032295 BTC.
• Horizen (ZEN) traded up 2.6% against the dollar and now trades at $7.47 or 0.00010714 BTC.
• Pirate Chain (ARRR) traded up 0.5% against the dollar and now trades at $0.18 or 0.00000263 BTC.
• Komodo (KMD) traded down 0.3% against the dollar and now trades at $0.23 or 0.00000329 BTC.
• ZClassic (ZCL) traded 0.8% higher against the dollar and now trades at $0.0488 or 0.00000070 BTC.

About Zcash

Zcash (CRYPTO:ZEC) 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 16,328,269 coins. Zcash’s official website is z.cash. 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. Zcash’s official message board is forum.z.cash.

According to CryptoCompare, “ZCash (ZEC) is a digital currency and decentralized open-source cryptocurrency, launched in 2016. It provides users with enhanced privacy and selective transparency of transactions. ZCash is based on the zero-knowledge proof protocol known as zk-SNARKs. This protocol allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Transactions can be audited, verified and tracked without revealing the sender, receiver or transaction amount. ZEC is an inflationary currency, with a maximum supply of 21 million coins. It is accepted by a growing number of merchants, exchanges and other services.”

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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView