Crypto Market Sees Gains as Altcoins Surge, ZEC Reaches New High
- Bitcoin (BTC) rose by 2.9% to $116,592.90, while Ethereum (ETH) increased by 3.1% to $4,005.03.
- Privacy token ZEC reached a peak of $97.25, marking a daily rise of 41%, its highest since May 2022.
- Total futures open interest for BTC is approximately $31.69 billion, with Binance leading at $13.19 billion.
- Funding rates across major exchanges are positive, with Deribit’s annualized funding rate at a notable high of 17%.
- Liquidations totaled $644 million in the last day, with Bitcoin and Ethereum leading at $166 million and $164 million respectively.
The recent market uptick coincides with the U.S. government shutdown affecting the dollar’s value and driving gold prices to record highs at $3,887. The surge in altcoins reflects growing investor interest amid speculation of an “altcoin season.”
As ZEC hit a new high with a significant trading volume increase to $300 million, altcoins have generally outperformed Bitcoin recently.(Source)
