Zcash (ZEC) 24-Hour Trading Volume Hits $495.90 Million

Zcash (ZEC) traded down 1.9% against the U.S. dollar during the 24-hour period ending at 7:00 AM ET on January 20th. In the last seven days, Zcash has traded 10% lower against the U.S. dollar. One Zcash coin can currently be bought for approximately $366.29 or 0.00401747 BTC on popular exchanges. Zcash has a market cap of $6.04 billion and approximately $495.90 million worth of Zcash was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Horizen (ZEN) traded 6.8% lower against the dollar and now trades at $10.40 or 0.00011401 BTC.
• Pirate Chain (ARRR) traded down 8.5% against the dollar and now trades at $0.45 or 0.00000493 BTC.
• Bitcoin Gold (BTG) traded down 15.1% against the dollar and now trades at $1.34 or 0.00001470 BTC.
• Komodo (KMD) traded 31.9% lower against the dollar and now trades at $0.0250 or 0.00000027 BTC.
• ZClassic (ZCL) traded 3.2% lower against the dollar and now trades at $0.32 or 0.00000356 BTC.

Zcash Coin Profile

Zcash (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 16,495,166 coins. 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. Zcash’s official website is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible 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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. 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