Zcash Leads Crypto Gains as US CPI, LINEA Unlock Drive Volatility

I. Crypto Market Overview

Key Takeaways

Macro Environment

The upcoming US CPI release amid a government shutdown is increasing market uncertainty and volatility. The Federal Reserve remains divided on further rate cuts, fueling risk-on sentiment in crypto. The Bank of England's call for stronger stablecoin oversight signals shifting liquidity and regulatory focus.

Crypto Market

The crypto market shows mixed performance over the past 12 hours. Bitcoin (BTC) trades at $121,724, down 0.75%, while Ethereum (ETH) is at $4,388.71, down 2.24%. Zcash (ZEC) surged 33% to $232.23 on institutional privacy demand, Litecoin (LTC) rose 8% to $128.24, and MYX Finance (MYX) gained 4% to $5.33, driven by protocol upgrade speculation. Altcoins are led by privacy and payment narratives.

Today's Outlook

Today's major events include the LINEA token unlock, releasing 1.08 billion tokens (6.57% of supply), and the BTFS v4.1 Mainnet launch with enhanced features. These events may impact token-specific volatility and DeFi sector sentiment.

Fear and Greed Index

60.00% Annual Percentile

58 Neutral

Total Crypto Market Cap

$4.15T

1.54%

Total Market Trading Volume

$210.77B

11.01%

Altcoin Season Index

0.00%

Quarterly Percentile

43 / 100

Total Futures Market Open Interest

3.58B

1.72%

Futures

1.12T

3.94%

Perpetuals

II. Industry Updates

Macro-economic Policies

The US Bureau of Labor Statistics will release September CPI data soon despite the government shutdown; delayed inflation data increases uncertainty for crypto markets and may heighten volatility in BTC and DeFi assets.

Federal Reserve officials remain divided on further rate cuts after the recent 0.25% reduction; ongoing uncertainty over monetary policy direction is fueling risk-on sentiment and supporting crypto asset prices.

The Bank of England has called for stronger oversight of stablecoins, highlighting the growing influence of digital assets on financial stability and signaling potential shifts in liquidity for DeFi and stablecoin markets.

US Treasury Secretary Bessent announced a slightly lower federal deficit than expected, but the record-high 6.5% of GDP keeps fiscal concerns elevated, supporting the narrative for Bitcoin as a hedge against fiat debasement.

China expanded rare earth export restrictions, intensifying global trade tensions; such moves can impact global risk appetite and indirectly affect crypto market flows as investors seek alternative assets.

Cryptocurrency Regulatory Trends

Roger Ver, known as 'Bitcoin Jesus', has settled a major tax evasion case with the US DOJ by agreeing to pay $48 million, signaling a softer US regulatory stance and boosting market confidence in regulatory negotiation over prosecution.

France is urging the EU to grant ESMA direct oversight of major crypto firms and stablecoins, aiming to close regulatory loopholes and ensure consistent MiCA enforcement, which could increase compliance costs but enhance investor protection.

The Bank of England has called for stronger regulation of stablecoins, highlighting systemic risks and pushing for robust oversight, which may impact stablecoin issuers and market liquidity in the UK and Europe.

Coinbase has received regulatory approval to offer crypto staking services in New York, marking a significant shift in one of the strictest US markets and potentially encouraging other states to relax staking restrictions.

North Dakota has launched its first state-backed stablecoin, Roughrider Coin, reflecting the growing trend of US states experimenting with digital assets under the new federal GENIUS Act framework.

Zcash (ZEC): ZEC surged 31.9% in 24h to $233.13 with $981M volume, driven by renewed institutional interest and privacy narrative, making it the top gainer.

Litecoin (LTC): LTC rose 8.1% in 24h to $128.38 with $1.43B volume, supported by strong network activity and increased adoption for fast, low-fee payments.

MYX Finance (MYX): MYX gained 4.8% in 24h to $5.38 with $83M volume, as traders speculated on protocol upgrades and cross-chain margining, boosting DeFi engagement.

Smart Money Movements

Whale 0x882E deposited 14,275 ETH ($62.48M) to Binance, realizing over $156M in total profit from ETH sales since March 2024.

A new wallet received 23,823 ETH ($104M) from BitGo, with the address suspected to be linked to BitMine, indicating significant institutional movement.

BlackRock's iShares Bitcoin Trust ETF acquired 3,450 BTC, further expanding institutional exposure to digital assets.

Remixpoint increased its Bitcoin holdings by 3.22 BTC, bringing its total to 1,374.68 BTC, as part of ongoing treasury accumulation.

Whale investors offloaded 440 million XRP in the past month, intensifying bearish sentiment as XRP traded near $2.79 support.

Events to Watch

Oct 10 (Fri)

LINEA will conduct a scheduled token unlock as part of its bi-weekly release; BTFS v4.1 Mainnet launches with enhanced features.

Oct 14 (Tue)

Chainlink hosts Road to SmartCon in London, focusing on blockchain and DeFi; Lab LAB holds its Token Generation Event; Monad MON airdrop takes place.

Oct 15 (Wed)

US Bureau of Labor Statistics plans to release September CPI data, a key inflation indicator; European Blockchain Convention 11 begins in Barcelona; Invest Web3 Forum opens in Dubai; HiveFest 10 starts in Kuala Lumpur; RECALL ERC-20 token launches on Base.

Oct 16 (Thu)

Scheduled unlock of 92.65 million ARB tokens (1.7% of supply); Delysium launches its governance advisory agent on Lucy platform.

III. Phemex Market Focus

New Listings

Oct 09: (KGEN/USDT)

New spot trading pairs KGEN/USDT, EVAA/USDT, P/USDT, and PIPE/USDT listed on Phemex.

Oct 08: (4USDT)

New futures trading pair 4USDT with linear USDT-margined and hedge mode support.

Oct 07: (KGENUSDT)

New futures trading pair KGENUSDT with linear USDT-margined and hedge mode support.

Oct 06: (LYNUSDT)

New futures trading pair LYNUSDT with linear USDT-margined and hedge mode support.

Oct 03: (EVAAUSDT)

New futures trading pair EVAAUSDT with linear USDT-margined and hedge mode support.

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