ZCash (ZEC) Price: Network Activity Surges 30% Despite Token’s Steep Drop From Peak
ZCash's blockchain is buzzing—just not its price.
While network activity spikes, ZEC tanks 30% from its high. Classic crypto: the tech thrives while traders get wrecked.
Here's the breakdown:
Network on Fire, Portfolio on Ice
Transactions and active addresses are climbing—the kind of metrics that usually make analysts bullish. But ZEC keeps dumping like a bagholder's dream.
The Great Crypto Irony
Privacy coins like ZCash were supposed to be the 'smart money' play. Instead, they're becoming the poster child for 'buy the rumor, sell the news'—except there wasn't even any news.
Bottom Line
If you're still holding, you either believe in the tech or enjoy pain. Either way, Wall Street's still laughing all the way to their regulated, centralized banks.
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During Tuesday’s regular trading session, the three major indexes closed mixed. The Dow hit a record high, rising 1.18%, helped by gains in consumer and healthcare stocks such as Walmart (WMT), McDonald’s (MCD), Eli Lilly (LLY), and Johnson & Johnson (JNJ). The S&P 500 gained 0.21%, while the Nasdaq fell 0.25% as investors sold off Nvidia (NVDA) shares following reports that SoftBank (SFTBY) sold its entire stake for $5.83 billion.
After the market closed, AMD stock jumped 4.8% following its impressive Financial Analyst Day. AMD outlined plans to lead the projected $1 trillion global computing market by 2030, targeting over 35% annual revenue growth and adjusted earnings per share above $20. Su noted that AMD will continue to focus on AI, high-performance computing, data centers, embedded systems, and gaming.
The U.S. government may reopen by the end of this week after the Senate passed a spending bill Monday night with a 60–40 vote. Eight Democrats joined Republicans in supporting the measure. While several economic reports remain pending, multiple Federal Reserve officials are expected to speak today.
As the third-quarter earnings season winds down, notable companies reporting today include Cisco (CSCO), Serve Robotics (SERV), and Circle Internet (CRCL).
Notably, the U.S. 10-year Treasury yield was down, floating NEAR 4.09%. WTI crude oil futures were trending lower, hovering near $60.76 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,122 per ounce on Wednesday.
Elsewhere, in Europe, markets opened higher on Wednesday amid Optimism surrounding the U.S. government’s budget progress and a busy day of earnings announcements.
Asia-Pacific Markets Traded Higher
Asia-Pacific markets traded mostly higher on Wednesday, tracking Wall Street gains. However, Masayoshi Son-led Japan’s SoftBank shares fell 10% after revealing the Nvidia stock sale.
Hong Kong’s Hang Seng index gained 0.85%. In China, the Shanghai Composite dropped 0.07%, while the Shenzhen Component declined 0.67%. Meanwhile, Japan’s Nikkei advanced 0.43%, and the Topix added 1.14%.
