Live updates: Zcash climbs 6% as majors slide ahead of Fed rate decision
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.
The cryptocurrency Zcash has seen a 6% increase, while major cryptocurrencies have slid ahead of the US Federal Reserve's rate decision. Zcash is up 130% over 30 days and is trading near its all-time highs from 2016, according to CoinDesk. In contrast, bitcoin has reached a three-and-a-half-week low, below $76,000.
Asian markets were mixed as traders await the US Federal Reserve's policy decision, with the GIFT Nifty indicating a slightly lower open for the Nifty50, as per Business Standard. Oil prices have fallen due to a rise in US crude inventories, despite concerns over Saudi supply.
The US Dollar has firmer support from climbing US yields and rate-hike expectations, with markets expecting a 25 basis points rate hike to 3.75%-4.00% from the Federal Reserve. This has weighed on growth-sensitive currencies like the New Zealand Dollar, which has seen a run of losses, according to FXStreet.
Brief written by urgent.news from CoinDesk, NDTV, Business Standard IN, FXStreet — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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