Zcash (ZEC) Price Down 15.2% Over Last Week

Zcash (ZEC) traded down 5% against the US dollar during the 1-day period ending at 8:00 AM E.T. on October 3rd. Zcash has a market capitalization of $22.15 billion and approximately $827.80 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be bought for about $1,310.66 or 0.01547911 BTC on cryptocurrency exchanges. Over the last week, Zcash has traded 15.2% lower against the US dollar.

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

• Horizen (ZEN) traded 3.8% lower against the dollar and now trades at $6.86 or 0.00008107 BTC.
• Pirate Chain (ARRR) traded up 2.4% against the dollar and now trades at $0.30 or 0.00000357 BTC.
• ZClassic (ZCL) traded up 15.5% against the dollar and now trades at $1.09 or 0.00001292 BTC.
• Bitcoin Gold (BTG) traded down 54.7% against the dollar and now trades at $0.41 or 0.00000480 BTC.
• Komodo (KMD) traded down 74.4% against the dollar and now trades at $0.0200 or 0.00000024 BTC.

Zcash Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 16,898,753 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.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 website is 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 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 GDAX, Changelly 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