Zcash led the cryptocurrency market recovery on Tuesday, rising 8.5% to $1 215.85. This move brought the asset's market capitalization to $20.57 billion. Bitcoin also saw gains, climbing 1.57% to reach $83 195, while Ethereum increased by 2.90% to $2 463.35.
The total cryptocurrency market capitalization grew by 1.68% to $2.78 trillion. The CMC20 index, tracking the 20 largest assets, rose 1.45% to $169.87 per unit. Crypto exchange-traded funds recorded net inflows of $526.7 million on Monday, marking the largest daily inflow in a month.
Zcash's performance follows a 25% decline over the previous month and precedes a scheduled network upgrade decision. Meanwhile, the privacy coin Monero rose 15.29% over the last seven days to $609.87. Zcash remains up 1.17% over the past week despite its recent daily jump.
Market sentiment currently sits at a neutral level, with the Fear and Greed Index at 51 and the Altcoin Season Index at 60. Investors are now monitoring the upcoming Federal Reserve meeting scheduled for October 27 and 28 to assess potential signals regarding interest rate adjustments.
