Ten candles and an axe. Zcash produced its first block on October 28, 2016 and celebrated its tenth anniversary this Wednesday with a ZEC at $1,308. Its co-founder Sean Bowe chose this moment to request the closure of the subsidy program which affects 8% of each mined block.
The rest of the picture moves shortly before the Fed's decision at 7 p.m. Ether, Solana and XRP are breathing, Hyperliquid is digesting its upcoming release and a small capitalization of Cosmos has just voted to completely stop its inflation. Polkadot under $1 would do well to take note.
Key Points
ZEC is worth $1,308 at 8:30 a.m., after an overnight peak at $1,327, or nearly 7% gained in 24 hours.
Sean Bowe proposes to redirect the 8% of the block subsidy allocated to the grants towards the network sustainability mechanism.
Osmosis voted 91% to end its OSMO emissions, the token gained 7.4% over the week despite a decline this morning.
Ether holds $2,351, Solana rises to $101.9 and XRP advances 1.9% to $1.32.
HYPE quotes $81.1 with a release of $804M in tokens scheduled for November 6.
Zcash at 10 years with a ZEC at $1,308 and a treasury of grants considered obese
Remember October 2016. The network started with a deliberately slowed down broadcast, the famous slow start, and a handful of ZECs in circulation. Ten years later, the confidential coin is selling for $1,308 at 8:30 a.m. this Wednesday according to CoinGecko, up about 7% over 24 hours and 4% over seven days.
The night was more agitated than this figure suggests. During the night, ZEC touched $1,327 before giving up part of the ground. The capitalization reached 22.2 billion dollars, tenth in the world, for 854 million exchanged during the day.
Three fuels fuel the movement. Flows to Grayscale's Zcash fund, which we detailed in recent days, the activation of the NU7 upgrade set at block 3,543,405, expected around November 5 with a move to 25 seconds per block, and a repurchase of short positions whose exact extent remains to be confirmed.
Sean Bowe wants to turn off the Zcash grants tap
And then there's Sean Bowe. The co-founder submitted on Monday October 26 a draft of ZIP which proposes to cut the automatic flow of 8% of the block subsidy paid to Zcash Community Grants (ZCG), the body which finances third-party developers. On X, he doesn’t beat around the bush: “It’s time to turn off the ZCG financing tap. ZCG has over $125 million and will receive millions more before the tap is turned off. The program was never designed to manage such an amount. »
The figures in the draft give the extent of the problem. ZCG holds 91,452.98 ZEC and approximately $8.8 million in dollar assets, against $2.4 million in outstanding grant commitments. At current prices, the 8% would bring in more than $68 million in ZEC per year, for a program that spent $1.53 million in the first quarter of 2026 according to the Financial Privacy Foundation.
Bowe wants to redirect the sum to the Network Sustainability Mechanism, the mechanism that smooths future emissions, without increasing total supply. The fund controlled by the holders, which affects 12% of the blocks, does not move. ZCG would maintain its cash flow and honor its commitments. Nothing applies right away. The proposal has no activation height, it does not enter NU7 and will have to wait for a future upgrade to exist elsewhere than on GitHub.
Osmosis stops printing and HYPE prepares its unblocking
Change of scale. Osmosis, the decentralized Cosmos exchange launched in 2021, weighs 40 million dollars in capitalization in 542nd place. Its OSMO token is trading at $0.054 this morning, down around 3% over 24 hours, but with a gain of 7.4% over the week.
The cause is dated. Proposition 1053, “End OSMO Inflationary Emissions”, was voted on from October 20 to 25 and adopted by 91.07% of the votes with 65.5% participation, for a quorum set at 30%. The subsequent first issuance cycle minted zero tokens, compared to some 91,324 OSMOs per day previously.
Stakers lose around two points of annual yield financed by printing money, and 51.9 million pre-minted developer tokens are frozen, according to The Defiant. A second proposal is already circulating to burn almost half of the community pool. You will find the course on the Osmosis (OSMO) page of the Journal du Coin.
Hyperliquid (HYPE) rises to 81.1 dollars, up 4% over the day and stable over the week, for 19.4 billion capitalization. The deadline to watch falls on November 6: 9.92 million HYPE, approximately $804 million at today's rate, will be released for the benefit of main contributors. Crypto.com and OG.com also opened leverage 5 perpetual contracts for American traders on Tuesday, via OG.com's regulated CFTC clearing house, without publishing the list of underlying assets.
Ether, Solana and XRP before the Fed
The hard core awaits Kevin Warsh. Ether is trading at $2,351 at 8:30 a.m., up about 2% over 24 hours but still down 3.6% over seven days. As of Monday, spot ETH ETFs had seen $88.6 million in outflows, a figure to compare to Tuesday's flows when they fall in the morning.
Solana rose to $101.85, up 2% on the day, after falling below $100 the day before. The SOL still lost 3.6% over the week. XRP follows with 1.32 dollars and around 1.9% increase, driven by Ripple's Swell sequence, where Robinhood announced the arrival of the stablecoin RLUSD in its application.
Bitcoin is hovering around $80,800. The entire market is awaiting the Federal Reserve's decision at 7 p.m. Paris time, with rates largely expected to be maintained and a press conference scrutinized for the slightest hint of an increase in December.
