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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/17/2026

Crypto Markets Rally Despite Fed's First Rate Hike Since 2023; Zcash Hits Record High

What happened: The Federal Reserve raised its policy rate by 25 basis points to a 3.

Crypto Markets Rally Despite Fed's First Rate Hike Since 2023; Zcash Hits Record High

What happened: The Federal Reserve raised its policy rate by 25 basis points to a 3.75%–4.00% range, marking its first hike since July 2023. Despite the move, Bitcoin rose 0.88% to $76,621, Ethereum climbed 1.1% to $2,444, and Solana gained 2% to $100.57. Zcash (ZEC) surged 23% to a new all-time high of $1,369 after Paradigm co-founder Matt Huang disclosed a significant ZEC stake and support for the Zcash developer fund. The CoinDesk 100 index saw 94 out of 100 constituents in the green, and small-cap tokens outperformed with a 4.7% gain.

Why it matters: Crypto's resilience in the face of monetary tightening is notable, especially as the Fed's dot-plot signals only one further hike through 2027. The Zcash rally underscores the impact of institutional endorsements and governance reforms, with Huang highlighting ZEC's privacy features and the importance of robust developer funding amid rising AI-driven cyber threats. However, ZEC's price—up from $40 a year ago—raises questions about sustainability and speculative excess.

Source: CoinDesk