Cryptocurrency markets reacted with growth on Tuesday, with Zcash leading the recovery, increasing by 8.5% over 24 hours to $1,215.85 – the best performance among major tokens. Its market capitalization reached $20.57 billion. Bitcoin rose by 1.57% to $83,195, and Ethereum grew by 2.90% to $2,463.35. Almost all major crypto assets, except stablecoins, ended the day in the green. The total cryptocurrency market capitalization increased by 1.68% to $2.78 trillion, and the CMC20 index, which tracks the 20 largest cryptocurrencies, added 1.45% to $169.87 per unit.
The recovery occurred against the backdrop of growth in the technology sector: shares of companies in the semiconductor and AI fields recouped last week's losses, with the Nasdaq Composite rising by approximately 1.1%. Traditional investors also provided support – cryptocurrency exchange-traded funds recorded net inflows of $526.7 million, the highest in a month. A key pressure factor remains treasury bond yields above 5%, while Brent is trading around $110 per barrel. Expensive oil amplifies inflation, which may force the Fed to maintain high rates.
Zcash experienced a drop of approximately 25% over the past month, which already led to the liquidation of positions by traders who leveraged for growth. Once these sales were exhausted, the price had room to rebound. Additionally, developers are expected to make a decision on the NU7 network upgrade – traders often buy ahead of such events. Competing privacy asset Monero rose by 15.29% over the week to $609.87. Meanwhile, Zcash gained only 1.17% over seven days, so the daily jump has not yet offset the monthly decline.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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