Zcash defied the crypto market downturn with a 45% rally this week, making it the most valuable privacy-focused cryptocurrency, following Hayes’ call for a $10,000 price target. Some of the leading privacy coins are defying the gravity of the digital asset market, signaling growing investor demand for privacy-focused cryptocurrencies. Zcash (ZEC) surged to an over eight-year high of $388 on Friday after rising 7.6% in the last 24 hours, according to data aggregator CoinMarketCap. With a $6.2 billion market capitalization at the time of writing, ZEC flipped Monero (XMR) to become the most valuable privacy-focused cryptocurrency. ZEC’s 45% weekly rise bucked the broader crypto market downturn, which continued its consolidation after a much-awaited tariff deal between the US and China failed to materialize on Thursday. Read more
Zcash’s rally faces a test as a rising wedge pattern signals a possible 30% pullback toward the $260–$270 support zone in November. Key Takeaways: ZEC’s 500% October rally is fueled by celebrity endorsements and short liquidations. A rising wedge pattern now warns of a potential 30% correction toward the $260–$270 support zone in November. Read more
The Australian Federal Police cracked a coded crypto wallet backup holding $5.9 million after a data scientist deciphered a complex numerical sequence on a phone. Australian police cracked a coded cryptocurrency wallet backup containing 9 million Australian dollars ($5.9 million). Australian Federal Police (AFP) Commissioner Krissy Barrett described the effort as “miraculous work” during a Wednesday speech, crediting a data scientist who has become known within the agency as a “crypto safe cracker.” During an investigation into a purported “well-connected alleged criminal” who stockpiled cryptocurrency by selling “a tech-type product to alleged criminals,” the AFP came across password-protected notes on his mobile phone. Upon further examination, law enforcement also identified an image containing random numbers and words, Barrett said. Read more
“Uptober” has turned into a red month for Bitcoin, with Fed rate cut hopes and easing US-China trade tensions doing little to uphold BTC prices. Key takeaways: Bitcoin is set to end October in the red, breaking a six-year “Uptober” streak. Traders are divided, with some fearing a significant correction ahead, while others still anticipate new highs in Q4. Read more