Zcash Tops 1-Day Trading Volume of $60.76 Million (ZEC)

by · The Markets Daily

Zcash (ZEC) traded up 4.8% against the U.S. dollar during the 1-day period ending at 11:00 AM ET on May 5th. One Zcash coin can now be purchased for about $36.60 or 0.00039014 BTC on exchanges. During the last seven days, Zcash has traded up 0.8% against the U.S. dollar. Zcash has a total market capitalization of $581.48 million and $60.76 million worth of Zcash was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed during the last day:

  • Horizen (ZEN) traded 1.8% lower against the dollar and now trades at $8.29 or 0.00008833 BTC.
  • Pirate Chain (ARRR) traded 3.5% lower against the dollar and now trades at $0.13 or 0.00000134 BTC.
  • Komodo (KMD) traded down 2.4% against the dollar and now trades at $0.13 or 0.00000144 BTC.
  • Bitcoin Gold (BTG) traded 16% lower against the dollar and now trades at $0.74 or 0.00000788 BTC.
  • ZClassic (ZCL) traded down 2% against the dollar and now trades at $0.0807 or 0.00000086 BTC.

About Zcash

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 15,905,531 coins and its circulating supply is 15,886,821 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 Twitter account is @electriccoinco and its Facebook page is accessible here. Zcash’s official message board is forum.z.cash.

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 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 GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView