Zcash Surges 17% as Crypto Market Rebounds; Major Token Unlocks Ahead

I. Crypto Market Overview

Key Takeaways

Macro Environment

The SEC's new generic ETF listing standards are set to accelerate crypto ETF launches, improving market access. The Federal Reserve's recent rate cut and ongoing inflation concerns sustain macro uncertainty for digital assets. Kazakhstan's approval of an offshore yuan-backed stablecoin signals growing global regulatory acceptance of stablecoins and cross-border blockchain adoption.

Crypto Market

The crypto market advanced over 2% in the past 12 hours, with BTC up 2.44% to $112,141 and ETH rising 3.50% to $4,133.96, both rebounding on renewed institutional inflows. Zcash (ZEC) led altcoin gains, surging 17.2% to $67.62 on privacy coin momentum, while PUMP.fun (PUMP) jumped 11.1% and Mantle (MNT) climbed 7.5%, driven by exchange listings and DeFi adoption. Altcoins broadly outperformed, with privacy and DeFi sectors showing the strongest momentum.

Today's Outlook

Key events today include the release of the US Personal Consumption Expenditures (PCE) Price Index and Dallas Fed Manufacturing Index, both critical for macro sentiment. Major token unlocks for Solana and EigenCloud, totaling over $170 million, may increase volatility and impact liquidity across DeFi and altcoin markets.

Fear and Greed Index

88.00% Annual Percentile

34 Neutral

Total Crypto Market Cap

$3.89T

3.06%

Total Market Trading Volume

$149.88B

62.50%

Altcoin Season Index

16.67%

Quarterly Percentile

65 / 100

Total Futures Market Open Interest

3.53B

10.88%

Futures

1.09T

9.14%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve recently cut rates by 25bps, but officials stress ongoing inflation risks and a restrictive stance, signaling continued macro uncertainty for BTC and DeFi liquidity.

The Reserve Bank of India’s Monetary Policy Committee is set to announce its rate decision on Wednesday, with markets split between a 25bps cut or a hold; this will directly impact INR volatility and crypto flows in the region.

A potential U.S. government shutdown could delay key economic data releases, increasing volatility and uncertainty in crypto markets as traders lose macro guidance for BTC and ETH price action.

The Reserve Bank of New Zealand is preparing for further monetary easing after a 0.9% GDP contraction, which could boost risk appetite and drive capital into digital assets and DeFi protocols.

President Trump’s new 50% tariff on Indian exports and changes to H1-B visa policy are pressuring India’s economy, increasing the likelihood of RBI rate cuts and potentially weakening INR, which may drive local demand for stablecoins and BTC.

Cryptocurrency Regulatory Trends

The SEC has requested issuers of Litecoin, XRP, Solana, Cardano, and Dogecoin ETFs to withdraw 19b-4 filings, as new generic listing standards now streamline the ETF approval process. This regulatory shift is expected to accelerate ETF launches and boost market accessibility.

SEC Chairman Paul Atkins announced a deregulatory agenda to modernize crypto oversight, aiming to reduce compliance burdens and foster innovation in DeFi and tokenized securities. This move may enhance investor confidence and attract institutional participation.

A potential U.S. government shutdown could further delay already stalled crypto regulatory initiatives, potentially slowing the rollout of new policies and impacting market sentiment.

Kazakhstan has launched AxCNH, the first regulated offshore yuan-backed stablecoin, with official approval. This development signals growing global regulatory acceptance of stablecoins and may encourage cross-border blockchain adoption.

Zcash (ZEC): Zcash surged 17% in 24h to $67.62, reaching a nine-month high with trading volume up 194%, driven by renewed interest in privacy coins and strong technical momentum.

PUMP.fun (PUMP): PUMP.fun rose 11% in 24h to $0.0056, with 24h volume exceeding $615M, boosted by a new Huobi HTX listing and margin trading launch, fueling market activity.

Mantle (MNT): Mantle gained 9% in 24h to $1.84, hitting a new all-time high amid a 15% weekly rise, supported by Bybit integrations and growing DeFi ecosystem adoption.

Smart Money Movements

Strategy acquired an additional 196 BTC for $22.1 million at an average price of $113,048, bringing total holdings to 640,031 BTC.

BlackRock transferred 49,607.8 ETH ($206.17 million) and 340.5 BTC ($38.18 million) to Coinbase Prime, highlighting ongoing institutional crypto activity.

FG NEXUS increased its Ethereum holdings to 50,770 ETH, valued at approximately $207 million, with an average acquisition price of $3,860 per ETH.

A Cardano whale moved 67,926,042 ADA worth over $54 million from Coinbase to an unknown wallet, raising speculation about large-scale accumulation.

TON Strategy Company staked 82% of its TON reserves, aiming for full staking by October 10, with an expected annualized yield of $24 million.

Events to Watch

Sep 29 (Mon)

US Personal Consumption Expenditures (PCE) Price Index and Dallas Fed Manufacturing Index released; Solana and EIGEN begin major token unlocks, totaling over $170M.

Sep 30 (Tue)

US Consumer Confidence Index and JOLTS Job Openings data released; DeepBook unlocks $69.65M in DEEP tokens; Reserve Bank of Australia announces interest rate decision.

Oct 1 (Wed)

SUI unlocks $181.8M in tokens; EigenCloud and Swarm Network launch major tokens; TOKEN2049 Singapore hosts key industry leaders and Alchemy Pay presentation.

Oct 2 (Thu)

US Initial Jobless Claims data released; DoubleZero 2Z token generation event; Predictive Oncology closes $344.4M ATH token financing.

Oct 3 (Fri)

US Nonfarm Payrolls and Employment Situation report released; Galactica GNET and Evaa Protocol EVAA token generation events.

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