Live updates: Zcash climbs 6% as majors slide ahead of Fed rate decision
Cryptocurrency markets saw a decline in major assets like Bitcoin and XRP following the failure of the CLARITY Act in the U.S. Senate. Meanwhile, Zcash bucked the trend with a 6% gain as investors await the Federal Reserve's upcoming interest rate decision.
Why it matters
The failure of key crypto-regulatory legislation and impending Fed rate hikes create significant volatility and uncertainty in digital asset markets.
XRP led the decliners, down more than 7% to $1.29. Ether and solana each fell about 3%, with bitcoin, BNB and tron all down about 1%. Bitcoin traded just under $76,000 after dipping below $75,000 on Tuesday.
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