Kategorie: Crypto News

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Zcash price drops to $190 amid broader crypto pullback

  • Zcash price dropped to the $190 support level.
  • Macro headwinds also had Bitcoin falling to below $105,000 to trigger further bleeding across crypto.
  • Analysts remain bullish despite the dip.

Zcash (ZEC) tumbled to lows of $190, with its double-digit declines reflecting widespread market unease.

Triggered by macroeconomic pressures, most coins plummeted to key levels, including Bitcoin, which retested the $105,500 area.

Crypto pullback and Zcash price today

Zcash, the privacy-focused cryptocurrency launched in 2016, experienced a sharp decline on Friday.

The token dipped to support around the $190 mark as a broader crypto market retracement ensued to see total market liquidations surpass $1 billion.

ZEC, one of the outperformers in recent weeks, fell below the key support level of $200.

Moreover, the price declines are accompanied by rising trading volume to reinforce the profit taking.

Per CoinMarketCap, the daily trading volume for the privacy-focused coin has jumped 26% to over $742 million.

Meanwhile, the price has fallen nearly 20% in the same time frame.

Zcash price chart by CoinMarketCap

Zcash has climbed 260% over the past month, outperforming nearly all of the top 100 cryptocurrencies by market capitalisation.

The market-wide pullback reflects broader macroeconomic factors, including renewed tensions in the US-China trade dispute and the ongoing US government shutdown.

Investors who had recently entered Zcash appear to be taking profits after a strong rally fueled by optimism surrounding its zero-knowledge proof technology.

Zcash has seen a notable surge in institutional interest in recent weeks.

Grayscale’s Zcash Trust has been a key driver, with assets under management exceeding $92 million — a signal of rising adoption.

The trust allows traditional investors to gain exposure to ZEC, one of the leading privacy coins, without the operational complexities of holding the asset directly.

ZEC price forecast

Major declines across the market came as investors, spooked by the latest news from US regional banks, exited positions.

Specifically, reports on Friday indicated that two US regional banks have hit the rocks with bad loans.

Jitters around banking sector risks saw a sharp dump for bank stocks cascade into futures trading on Wall Street.

A slip for the S&P 500 and the Nasdaq also sent crypto nosediving.

But Bitcoin’s drop could allow some capital rotation to revive ZEC price, one analyst pointed out on X.

Correlation among shielded transactions adoption gives this strength.

Market analysts point to overbought conditions in the short term.

A look at the Relative Strength Index (RSI) shows a dip into oversold territory, which means a potential reversal.

Overall, while the $190 mark signals a key demand zone, the $240 mark represents a crucial hurdle.

ZEC price reached highs of $295 earlier in the month.

The post Zcash price drops to $190 amid broader crypto pullback appeared first on CoinJournal.

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Ripple price forecast: XRP could dip below $2.0 as bearish momentum thickens

Key takeaways

  • XRP is down 7% in the last 24 hours and is now trading at $2.2 per coin.
  • The bearish performance comes as the broader crypto market undergoes a correction.

XRP continues to decline despite Ripple’s efforts to accumulate more tokens

XRP, the native coin of the Ripple ecosystem, has lost 7.5% of its value in the last 24 hours and is now trading at $2.2 per coin. The bearish performance comes despite Ripple Labs leading an effort to raise at least $1 billion through a special-purpose vehicle aimed at accumulating XRP.

Bloomberg reported that the funding round will occur via a special purpose acquisition company (SPAC), with funds held inside a new digital-asset treasury (DAT) structure. The report added that Ripple intends to contribute a portion of its own XRP holdings.

Furthermore, Ripple announced on Thursday that it had acquired GTreasury, a corporate treasury software provider, in a deal worth $1 billion. Ripple is expanding into financial services via acquisitions, buying stablecoin payments firm Rail and prime brokerage firm Hidden Road earlier this year.

Ripple revealed that GTreasury’s treasury platform, used by Fortune 500 enterprises for managing cash, foreign exchange, and risk, will now become part of its suite of financial tools. 

XRP could dip below $2 as bullish momentum grows weaker

The XRP/USD 4H Chart is bearish and inefficient after the coin price found resistance around the lower trendline of a falling wedge pattern earlier this week. It has lost 7.5% of its value in the last 24 hours and is now trading below the daily support of $2.35. 

ETH/USD 4H Chart

The RSI of 37 shows that bears are currently in control, with the MACD lines also signalling selling pressure. At press time, XRP is trading at $2.216 per coin. If the correction continues, XRP could extend its dip toward the next daily support at $1.96. Last Friday’s low of $1.77 could also be revisited if the bearish trend continues. 

However, if XRP recovers, it could extend the recovery toward the 200-day EMA at $2.62 over the next few hours. The $3 resistance level remains a medium-term target for now.

The post Ripple price forecast: XRP could dip below $2.0 as bearish momentum thickens appeared first on CoinJournal.

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Aster price tanks 20% as sell-off pressure hits altcoins

  • Aster price fell 20% to near $1 as sell-off pressure hit altcoins
  • The altcoin touched its all-time high of $2.42 in September, but has declined amid broader selling.
  • Altcoins are dumping as Bitcoin slips to under $106,000.

Aster (ASTER)’s parabolic gains in recent weeks are quickly fading in the rearview mirror as cryptocurrencies plummet.

The decentralized exchange’s governance token fell nearly 20% to inch closer to the $1 support level, with bulls succumbing to broader sell-off dynamics.

Aster has erased significant gains, and broader risks could see bears take control.

Aster price extends decline amid 20% dip

With crypto in red early Friday, Aster’s price plunged  20% to hit lows of $1.08 across major exchanges and trading platforms. 

Having changed hands above $1.36, the double-digit declines over the past 24 hours meant ASTER ranked among the top losers alongside Zcash, Mantle, SPX6900 and Morpho. 

Aster’s sharp downturn extends a multi-day decline since bulls failed to hold onto gains near $1.60.

The token had surged to the mark after bouncing off lows seen during the crypto crash on October 10.

In the past week, Aster’s price has fallen more than 32%, as profit-taking and broader macroeconomic pressures weighed on sentiment.

The next-generation decentralized perpetuals and spot exchange, built on the BNB Chain, had previously drawn significant attention from investors and traders alike.

Aster’s rapid rise had been bolstered by recent listings on major platforms such as Robinhood and Binance, which helped fuel earlier momentum.

However, the euphoria looks to be dissipating as sell-off pressure across cryptocurrencies mounts.

Bitcoin dipped below $105,000  early Friday. As bears touched lows of $104,597 after a 4% drop in the last 24 hours, top altcoins plummeted. 

Ethereum, Solana and XRP all dipped to or below key support levels, intensifying the bloodbath.

What next as Aster revisits $1 level?

Currently, Aster’s price flirts with the $1 psychological threshold.

This is a key level that bulls have to defend to avoid giving up further ground.

Prices, as the chart below shows, have recently consolidated above the critical mark.

ASTER price chart by TradingView

However, the sharp decline and breakdown from a descending triangle pattern mean bulls are at risk of more pain.

The token’s all-time high of $2.42 on September 24 is well off.

Nonetheless, technical indicators such as the Relative Strength Index (RSI) on the daily put ASTER in oversold territory.

What this suggests is that exhausted selling could allow bulls to target a rebound. 

Any downward pressure could nonetheless see the support at $1.00 collapse.

Data from Coinglass shows a sharp decline in open interest for Aster, now at $477 million.

Bullish positions have borne the brunt of the correction, with long liquidations accounting for nearly 90% of total liquidations — more than $10 million out of $12 million in the past 24 hours.

Short positions made up just $1.73 million of the total.

For bulls, a decisive breakout above $1 remains critical to regain momentum.

Conversely, sustained selling pressure below $0.85 would likely hand control to the bears.

The post Aster price tanks 20% as sell-off pressure hits altcoins appeared first on CoinJournal.

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Crypto market update: Bitcoin dips below $106k, ETH, XRP, SOL risk key levels

  • Bitcoin price has dropped below $106,000 as bearish pressure sends cryptocurrencies plummeting.
  • Ethereum, Solana, XRP and BNB have tanked below key levels.
  • Macro headwinds impacting equities also led to a decline in crypto prices today.

As global markets heave amid selloff pressure, major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are trading near pivotal support levels.

A similar outlook prevails across the rest of the crypto market, with a few coins experiencing double-digit losses over the past 24 hours.

Why is the crypto market down today?

The cryptocurrency market’s downturn on October 17 stems primarily from escalating US-China trade frictions.

In the past few days, events around the two trading partners have injected significant uncertainty into global risk assets.

President Donald Trump’s renewed threats of 100% tariffs on Chinese technology exports reverberated through financial corridors.

It prompted a broad sell-off that began on October 10 and persists today.

This policy escalation, aimed at curbing China’s dominance in rare earth minerals and semiconductors, has amplified fears of retaliatory measures, inflationary pressures, and supply chain disruption.

Together, these factors have disproportionately impacted high-volatility sectors like crypto.

Adding to the macro headwinds, on top of the market witnessing over $19 billion in liquidations across leveraged positions last Friday, is the continued profit taking.

Low liquidity during Asian trading hours today has exacerbated the rot.

Institutional sentiment souring as US spot Bitcoin and Ethereum ETFs record significant net outflows adds to the weakness.

Analysts note that while the Federal Reserve’s anticipated rate cut at the October 28-29 FOMC meeting could provide a counterbalance, short-term volatility remains elevated due to the absence of positive catalysts.

Crypto ETF hype around major altcoins has also cooled.

Overall, the total crypto market capitalisation has contracted by 4.6% to $3.58 trillion.

Nearly all of the top 100 coins are in the red as risk-off sentiment spills over from equities.

Meanwhile, Coinglass data shows that over $1.01 billion has been wiped off the market in terms of 24-hour liquidations.

Bitcoin struggles below $106k

Bitcoin, the bellwether of the crypto ecosystem, has mounted a fierce but futile defence against gravity.

Bitcoin price chart by TradingView

After a brief rebound to above $115k, BTC has dropped to under $106,000.

Bears reached lows of $105,918 in early trades on Friday, and despite bulls’ efforts, the benchmark digital asset is trading at $105,906 at the time of writing.

Bitcoin is thus firmly below the psychological mark of $110,000.

The US-China rhetoric and other factors risk pushing BTC lower. Immediate support is likely in the $103,000-$100,000 zone.

Ethereum, XRP, and SOL dip below key levels

As Bitcoin struggles below $110k, Ethereum has fared no better.

The top altcoin has plummeted 3.5% to $3,780 in the past 24 hours.

That means the Ethereum price is well below the $4,000 support level.

This dip has cascaded across the broader altcoin market.

Weakness in ETH also reflects in Solana, XRP and BNB among other altcoins.

XRP’s price hovers below the critical $3.00 mark as sellers push bulls to lows of $2.24.

Meanwhile,  Solana has cratered to below $200 to trade around $178 as bears target further strengthening.

As the market grapples with the downturn, BNB has retreated to near $1,000, and Dogecoin has slipped 9% to $0.17.

The post Crypto market update: Bitcoin dips below $106k, ETH, XRP, SOL risk key levels appeared first on CoinJournal.

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Daylight Energy raises $75M to expand decentralized energy infrastructure network

  • Daylight Energy secures $75M to grow its decentralized physical energy network.
  • Framework Ventures leads funding; A16z Crypto, Coinbase Ventures join in.
  • New DayFi protocol links energy infrastructure yields to DeFi investors.

Daylight Energy has raised $75 million in new funding to accelerate the growth of its decentralized energy network, marking a major milestone for the startup as it aims to bring blockchain-based innovation to the physical energy infrastructure sector.

The round combines both equity and project finance capital, underscoring growing investor interest in decentralized physical infrastructure networks (DePIN).

Funding structure and investor participation

The $75 million round includes $15 million in equity and $60 million in non-recourse project finance capital, which is secured directly against infrastructure assets, according to CEO Jason Badeaux.

This type of financing structure allows repayment from the project’s own cash flows rather than relying on the company’s balance sheet.

Framework Ventures led the $15 million equity raise, joined by several notable venture backers including A16z Crypto, Lerer Hippeau, M13, Room40 Ventures, EV3, Crucible Capital, Coinbase Ventures, and Not Boring Capital.

The project finance portion was led by Turtle Hill Capital, according to a company statement.

Daylight plans to use the new capital to advance its position in the DePIN ecosystem, particularly focusing on decentralized energy distribution.

The company previously raised $9 million in Series A funding in 2023, also led by A16z Crypto, which has remained one of its core supporters.

Expanding the DePIN vision in energy

Founded in 2022, Daylight Energy is developing a decentralized protocol that enables users to connect their energy devices—such as thermostats, batteries, electric vehicles, and solar inverters—to its application.

In return, participants earn rewards for contributing to the network’s distributed infrastructure.

The concept builds on the growing DePIN movement, which seeks to decentralize ownership and control of physical assets like telecommunications, storage, and energy infrastructure through blockchain technology.

“To build the largest decentralized energy network in the world, you need to incentivize behavior change to adopt distributed energy and catalyze a huge amount of capital behind it,” Badeaux said. “Crypto is uniquely good at doing those two things and creates opportunities to align incentives, drive down costs, and rebuild this industry on a foundation of transparency, ownership, and shared economic upside.”

Daylight’s mission aligns with a broader industry push toward democratized access to clean energy generation and participation in its value chain.

By merging blockchain incentives with real-world energy systems, the firm aims to reduce barriers to decentralized adoption.

Introducing DayFi: a bridge between energy and DeFi

Alongside the new funding, Daylight announced DayFi, a yield protocol designed to open the energy infrastructure market to decentralized finance (DeFi) investors.

The protocol will allow users to earn returns directly tied to electricity revenues generated from Daylight’s growing portfolio of solar and storage assets.

This move effectively bridges renewable energy and DeFi, offering investors exposure to real-world energy production within a blockchain-native framework.

Daylight was co-founded by Jason Badeaux, Udit Patel, and Evan Caron, all veterans of the traditional energy sector.

The team’s combined experience and backing from prominent venture firms position Daylight as one of the leading players exploring how blockchain can reshape physical infrastructure markets.

With the new financing secured, Daylight Energy is poised to expand its decentralized network footprint and further integrate energy production, distribution, and financing into a transparent, tokenized ecosystem.

The post Daylight Energy raises $75M to expand decentralized energy infrastructure network appeared first on CoinJournal.