Live updates: Zcash climbs 6% as majors slide ahead of Fed rate decision
liveUpdated 6 minutes ago
The privacy token is up 130% over 30 days and trades near its all-time highs from 2016, while bitcoin sits at a three-and-a-half-week low below $76,000.
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Zcash rose nearly 6% to just above $1,200 as of European morning hours Wednesday, the only major in the green, according to CoinDesk data.
XRP led the decliners, down more than 7% to $1.29. Ether and solana each fell about 3%, with bitcoin, BNB and tron all down about 1%. Bitcoin traded just under $76,000 after dipping below $75,000 on Tuesday.
That drop followed the failure of the CLARITY Act in the U.S. Senate, the bill that would set which agency regulates which digital assets and has been the industry’s main legislative push this year.
The Fed decides on rates later Wednesday with a quarter-point hike already priced in. Bitunix analysts told CoinDesk in an email that the size of the move matters less than what happens to long-term Treasury yields afterward.
Watch those long-dated yields once the decision lands. If they hold near current levels despite the tighter short rate, markets are pricing U.S. inflation and fiscal risk separately from anything the Fed does next.
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