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Stock impact report

Zcash price surge continues despite market turmoil [Yahoo! Finance]

Sol Strategies Inc. - Common Shares (STKE) 
Company Research Source: Yahoo! Finance
market turmoil has hammered most other major cryptocurrencies and the broader equities market. The privacy coin has surged 35%, to $664, since Thursday. In that same span, Bitcoin has fallen 2%, to $95,800, and Ethereum has held relatively steady. The week-over-week numbers are even more stark. Over the past seven days, Zcash is up 23%, while Bitcoin and Ethereum have fallen 6% and 7%, respectively. Markets fell on Thursday over mounting fears the Federal Reserve would hold interest rates steady at a meeting next month. The Fed's rate cutting campaign has helped boost stock markets this year, and rate cuts are generally a boon to risk-on assets, such as crypto. But traders are now pricing in a 44% chance the Fed cuts rates in December, according to CME's FedWatch tool. That's down from 66% a week ago and 94% last month. The Zcash rally has been fueled by rising interest in privacy-preserving technology. No cryptocurrency has performed as well as Zcash this year. It is up Show less Read more
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