Zcash (ZEC) Achieves Market Capitalization of $398.89 Million

Zcash (ZEC) traded down 1.1% against the dollar during the 1-day period ending at 14:00 PM E.T. on May 23rd. One Zcash coin can now be purchased for about $24.43 or 0.00035982 BTC on cryptocurrency exchanges. Zcash has a total market cap of $398.89 million and $48.89 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded 5.2% higher against the dollar.

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

• Bitcoin Gold (BTG) traded down 0.7% against the dollar and now trades at $36.75 or 0.00054134 BTC.
• Horizen (ZEN) traded up 0.9% against the dollar and now trades at $9.50 or 0.00013987 BTC.
• Pirate Chain (ARRR) traded 7.4% lower against the dollar and now trades at $0.26 or 0.00000388 BTC.
• Komodo (KMD) traded 6.7% lower against the dollar and now trades at $0.38 or 0.00000559 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded down 1.3% against the dollar and now trades at $0.0624 or 0.00000092 BTC.

Zcash Coin Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,328,269 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. Zcash’s official website is z.cash. 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.”

Zcash Coin Trading

It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView