Zcash (ZEC) Soars Over 250% on Privacy Demand

Zcash surged more than 250% in the last 30 days, hitting a three-year high above $150 and outperforming Bitcoin during “Uptober’s” bullish kickoff. CoinMarketCap data shows ZEC trading at $130, up 128% week-on-week and ranking first in Layer 1 category price gains.

The rally followed Naval’s post calling Zcash “insurance against Bitcoin,” and Mert Mumtaz highlighting privacy as central amid CBDC expansion. Analysts suggested ZEC’s resurgence reflects growing unease about BTC’s transparency and institutional oversight, contrasting with Zcash’s zk-SNARK-enabled privacy.

Institutional demand strengthened with Grayscale’s Zcash Trust launch, boosting legitimacy alongside surging spot volumes that climbed 182% into top-ten Layer 1 activity. Zcash now carries a $2.1 billion market cap, with weekly gains exceeding 138%, outpacing the category average of 12%.

ZEC supply stands at 16.2 million, or 77% of its 21 million cap, leaving room for scarcity-driven rallies. Traders noted resistance near $164, with potential upside toward $280-$300 if momentum sustains, though RSI overbought signals caution for near-term consolidation.

CME to Offer 24/7 Crypto Derivatives Trading

CME Group announced it will shift crypto futures and options to 24/7 trading starting in early 2026. Executives said continuous access meets rising institutional demand for around-the-clock risk management and hedging. CME’s leadership argued crypto markets are uniquely positioned for nonstop trading, unlike traditional products constrained by legacy settlement frameworks.

Other exchange leaders echoed similar expectations, noting tokenization could enable constant collateral movement across global financial markets. CME reported record third-quarter volumes, averaging 340,000 daily contracts worth $14.1 billion in notional value. Analysts said nonstop derivatives access strengthens CME’s role as a bridge between traditional capital markets and digital asset trading.

Tron Launches SunPerp Decentralized Derivatives Exchange

Tron unveiled SunPerp, its first decentralized perpetual exchange, alongside a new Chinese brand identity “Sun Wukong.” Founder Justin Sun said the platform merges centralized exchange efficiency with decentralized custody, delivering security, transparency, and low fees. SunPerp aims to transition Tron from a payments-focused network into a full trading hub with advanced infrastructure.

The exchange supports gas-fee rebates, dark pool privacy features, and cross-chain settlement with Ethereum and Solana assets. SunPerp already attracted 10,000 beta users with cumulative volumes above $900 million, offering up to 200 trading pairs. Its native SUN token will capture value through revenue buybacks, while staking programs and incentives reward active participants.

Plasma Founder Denies Insider Token Sales Allegations

Plasma founder Paul Faecks denied claims of insider selling after the project’s token XPL plunged more than 50%. He emphasized team and investor allocations remain locked for three years with a one-year cliff. XPL debuted with Plasma’s mainnet launch, spiked briefly to $1.70, then collapsed to $0.83 within days.

Community members accused the project and trading firm Wintermute of algorithmic selling, citing wallet activity sending tokens to exchanges. Plasma dismissed allegations, stating no ties to Wintermute and reaffirming focus on stablecoin payment infrastructure. Analysts said the controversy underscores persistent distrust around token launches, where opaque practices often spark market manipulation concerns.

Data of the Day

Decentralized perpetual exchanges collectively recorded $1.05 trillion in monthly trading, up 48% from August’s total. Aster led with $420 billion, boosted by a recent token launch and endorsement from Binance’s Changpeng Zhao. Hyperliquid followed with $282.5 billion, while Ethereum-based newcomer Lighter attracted $164 billion during its private beta testing phase.

Aster also surpassed Hyperliquid in daily protocol fees, earning $25 million compared to Hyperliquid’s $3.2 million. Analysts said Aster’s hidden-order functionality and aggressive liquidity programs fueled momentum despite sustainability questions. Meanwhile, Hyperliquid remains dominant in valuation, while Lighter prepares for broader rollout, potentially intensifying competitive dynamics across the decentralized perps sector.

More Breaking News

• DoubleZero launched its mainnet-beta with 70 fiber-linked nodes for blockchain traffic, as the SEC cleared DePIN tokens outside securities oversight.
• Australia’s Fitell Corp deepened its Solana treasury by buying 216.8 million PUMP tokens, rebranding toward crypto despite steep stock volatility.
• Avalanche Treasury Co. announced a $675M SPAC merger with Mountain Lake, targeting a $1B AVAX treasury through discounted Foundation-backed token purchases.
• Blockchain sleuth ZachXBT said $21M in BTC, ETH, LTC, DOGE and BCH stolen from Japanese miner SBI was laundered via Tornado Cash.
• Polymarket is set to relaunch for users in the United States within days, after securing CFTC clearance through its $112M QCX acquisition.
• The European Central Bank picked partners like Feedzai and Giesecke+Devrient to develop fraud, payments, and offline tools for its planned digital euro.

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