Zcash (ZEC) Price Down 10.9% Over Last Week

Zcash (ZEC) traded 3.3% lower against the US dollar during the 1 day period ending at 7:00 AM E.T. on April 22nd. Zcash has a market capitalization of $5.30 billion and approximately $458.40 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be purchased for $318.61 or 0.00407336 BTC on popular cryptocurrency exchanges. Over the last seven days, Zcash has traded down 10.9% against the US dollar.

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

• Horizen (ZEN) traded 0.2% higher against the dollar and now trades at $6.24 or 0.00007977 BTC.
• Pirate Chain (ARRR) traded 0.1% lower against the dollar and now trades at $0.19 or 0.00000242 BTC.
• Bitcoin Gold (BTG) traded up 88.4% against the dollar and now trades at $1.44 or 0.00001836 BTC.
• ZClassic (ZCL) traded up 0.9% against the dollar and now trades at $0.19 or 0.00000241 BTC.
• Komodo (KMD) traded up 0.3% against the dollar and now trades at $0.0034 or 0.00000004 BTC.

About Zcash

Zcash (ZEC) 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 16,640,186 coins. The official message board for Zcash is forum.z.cash. 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.

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

ZEC/USD price chart by TradingView