ZEC, DASH Lead as Privacy Coins Defy Broader Market Slide: Crypto Daybook Americas
CoinDesk
Privacy coins like Zcash and DASH surged while the broader crypto market, led by Bitcoin nearing June lows, experienced a risk-off session.Summary
The crypto markets faced a risk-off session, with Bitcoin sliding 3.5% toward October lows around $103,600, and the CoinDesk 20 Index falling 5%, attributed to hawkish Fed comments and a strengthening dollar. Amid this gloom, privacy coins such as Zcash, Decred (DCR), and DASH surged significantly, with DCR up 146% and DASH up 65%, suggesting traders are seeking refuge. The downturn was compounded by the collapse of Stream Finance's stablecoin, xUSD, which lost 80% of its value following a reported $93 million loss from an external fund manager. Technical indicators show rising Bitcoin volatility (BVIV) and bearish funding rates for ZEC futures, while spot BTC ETFs saw net outflows of $186.5 million.
(Source：CoinDesk)