The current price of Zcash (ZEC) stands at $37.26 as of the latest data. Over the past 24 hours, ZEC has seen a modest increase of 1%, with a negligible change of 0.06% in the last hour. However, the broader trend reveals a decline of -11.42% over the past week and a more significant drop of -30.03% over the last month.
Key Market Statistics
Price Performance
Zcash's price fluctuations in the last 24 hours have ranged between a low of $36.45** and a high of **$37.41. The trading volume during this period reached $15,368,113, indicating moderate market activity.
Market Capitalization
With a market cap of $601,861,590**, Zcash currently ranks **#132** among cryptocurrencies. Its fully diluted valuation is slightly higher at **$601,886,812.
Supply Metrics
The circulating supply of ZEC is 16,144,630 coins, while the total supply is 16,145,306. The maximum supply is capped at 21,000,000, suggesting potential for future issuance.
Historical Price Context
Zcash reached its all-time high of $3,191.93** on October 29, 2016, representing a decline of over **98%** from that peak. Conversely, the all-time low of **$16.08 occurred on July 5, 2024, marking a 131.72% increase from that bottom.
Longer-term performance metrics show:
- 30-day change: -30.03%
- 200-day change: -37.49%
- Year-over-year change: +81.36%
These figures are updated minute-by-minute to ensure accuracy in tracking Zcash's market movements.
Understanding Zcash's Value Proposition
Zcash is a privacy-focused cryptocurrency that uses zero-knowledge proofs to enable shielded transactions. This technology allows users to transact without revealing sender, receiver, or transaction amount details publicly on the blockchain.
The protocol offers both transparent and shielded addresses, giving users flexibility in their privacy preferences. This unique feature has positioned Zcash as a leading privacy coin in the cryptocurrency ecosystem.
Factors Influencing Zcash Price
Several elements contribute to ZEC's price dynamics:
Market Sentiment: Like most cryptocurrencies, Zcash is influenced by broader market trends and investor sentiment toward digital assets.
Regulatory Developments: Privacy coins face particular scrutiny from regulators worldwide, making regulatory news a significant price driver.
Technology Updates: Improvements to Zcash's protocol, such as the ongoing development of Halo 2, can impact investor confidence.
Adoption Metrics: Increased usage of shielded addresses and growing transaction volumes often correlate with positive price movement.
Trading and Investment Considerations
When evaluating Zcash as a potential investment, consider these aspects:
Volatility: ZEC exhibits significant price swings, characteristic of mid-cap cryptocurrencies.
Liquidity: While sufficient for most traders, Zcash's liquidity is lower than major cryptocurrencies like Bitcoin or Ethereum.
Correlation: Zcash often moves in correlation with the broader cryptocurrency market, though privacy-specific news can create divergence.
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Privacy Coin Landscape
Zcash operates in the competitive privacy coin sector, alongside projects like Monero and Dash. Each offers different approaches to transaction privacy:
- Monero: Uses ring signatures and stealth addresses to obfuscate all transactions by default
- Dash: Offers optional privacy through PrivateSend feature
- Zcash: Provides optional privacy through zk-SNARKs technology
This competitive environment means Zcash must continuously innovate to maintain its market position.
Frequently Asked Questions
What determines Zcash's price?
Zcash's price is primarily determined by market supply and demand dynamics, influenced by factors such as regulatory developments, technological advancements, broader cryptocurrency market trends, and adoption rates for privacy-focused transactions.
How does Zcash's privacy technology work?
Zcash uses zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge) to enable verified transactions without revealing sensitive information. This allows users to prove transaction validity without exposing addresses or amounts.
Can Zcash transactions be traced?
Transparent Zcash transactions are visible on the blockchain similar to Bitcoin transactions. Shielded transactions, however, protect sender, receiver, and amount details through advanced cryptography, making them significantly more private.
What is the difference between circulating supply and max supply?
Circulating supply refers to coins currently available and trading in the market. Max supply represents the absolute maximum number of coins that will ever exist for Zcash, which is capped at 21 million.
Why is Zcash ranked #132 by market capitalization?
Market rank is determined by comparing the total market value of all circulating coins across different cryptocurrencies. Zcash's position reflects its current valuation relative to other digital assets, which changes constantly based on price movements.
How often is Zcash price data updated?
Price data and market statistics for Zcash are typically updated in real-time across major tracking platforms, with most metrics refreshing every minute to ensure accurate, current information for traders and investors.
Future Outlook and Developments
The Zcash development community continues working on protocol improvements to enhance privacy, scalability, and usability. Upcoming upgrades could potentially impact ZEC's value proposition and market performance.
Investors should monitor development progress, regulatory developments affecting privacy coins, and broader cryptocurrency market trends when assessing Zcash's future price potential. As with any cryptocurrency, thorough research and risk assessment are essential before making investment decisions.