Update
Zcash Jumps 8% as HYPE Gains 5%
Zcash (ZEC) climbed 8% on Wednesday, outperforming Bitcoin ahead of the Federal Reserve’s October 28 policy decision. HYPE gained 5%, while XRP and DOGE rose about 3% each. Zcash traded near $1,322, with $878.3 million in 24-hour volume. Network activity also jumped, with 10,692 transactions and shielded transactions climbing 55.2%. Derivatives data points to short liquidations as a possible contributor to Zcash’s price advance, with open interest across seven exchanges reaching approximately $2.22 billion, up 13% in 24 hours. HYPE also showed similar patterns with open interest increasing 4.96%.