Zcash (ZEC) 24-Hour Volume Hits $828.81 Million

Zcash (ZEC) traded down 0.6% against the US dollar during the twenty-four hour period ending at 7:00 AM Eastern on June 1st. One Zcash coin can currently be purchased for about $543.59 or 0.00748891 BTC on popular exchanges. Over the last seven days, Zcash has traded 17.8% lower against the US dollar. Zcash has a market cap of $9.08 billion and approximately $828.81 million worth of Zcash was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Horizen (ZEN) traded 3.6% lower against the dollar and now trades at $5.79 or 0.00007979 BTC.
• Pirate Chain (ARRR) traded up 38.8% against the dollar and now trades at $0.45 or 0.00000626 BTC.
• Bitcoin Gold (BTG) traded up 51.1% against the dollar and now trades at $0.35 or 0.00000480 BTC.
• Komodo (KMD) traded down 54.5% against the dollar and now trades at $0.0258 or 0.00000036 BTC.
• ZClassic (ZCL) traded 42.2% higher against the dollar and now trades at $0.18 or 0.00000253 BTC.

Zcash Profile

Zcash 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 16,702,877 coins and its circulating supply is 16,702,935 coins. Zcash’s official website is z.cash. 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 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.”

Buying and Selling Zcash

It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. 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