Zcash price rallied nearly 12% on Friday, continuing its recent uptrend as buying interest picked up again after a brief pullback earlier this week.

According to data from crypto.news, Zcash (ZEC) rose to an intraday high close to $360 before easing slightly to trade around $350 at the time of writing. The move comes after the token found support near the $300 level, where buyers stepped in to defend the downside.

The latest rally appears to be driven by a mix of fresh demand and improving technical structure. After holding key support zones during its recent dip, Zcash has started to attract traders looking to position for a continuation move higher.

A key factor behind the renewed interest is the steady demand for privacy-focused cryptocurrencies. With growing attention on blockchain transparency and regulation, some investors are rotating into assets that offer stronger transaction confidentiality, which has helped lift sentiment around Zcash.

At the same time, activity within Zcash’s shielded ecosystem continues to support its outlook. The increasing share of coins held in shielded pools has effectively reduced liquid supply, which can amplify price moves when demand rises.

The token is also tracking the broader market recovery, with improving sentiment across crypto helping altcoins regain momentum after recent volatility.

If the current trend holds, traders will be watching whether Zcash can push toward the $400 level, which remains a key psychological barrier.

Zcash price analysis

On the daily chart, Zcash price has bounced from the 50% Fibonacci retracement level near $293, confirming it as a strong support zone.

It is now testing resistance around the 78.6% Fibonacci level near $350. A clean break above this level could see the price move back toward the recent high near $390.

The Supertrend indicator has stayed in bullish territory, suggesting the uptrend remains intact. Meanwhile, the RSI is sitting around 64, showing steady buying pressure without signs of extreme overheating.

On the downside, a drop below the $316 level, which aligns with the 0.618 Fibonacci support, could lead to a pullback toward the $293 zone.

Coinbase is rolling out a BLEND–USD spot pair for Fluent’s newly launched token, joining KuCoin and MEXC in a coordinated listing that could turn the tiny‑cap altcoin into a high‑beta volatility play.

Coinbase is preparing to launch spot trading for Fluent’s BLEND token, adding a BLEND–USD pair to its platform as early as today, subject to sufficient order-book liquidity. The decision places BLEND on the largest regulated crypto exchange in the United States by trading volume, signaling that demand for fresh altcoin listings remains strong despite a choppy market backdrop.

In an update on its listings page, Coinbase confirmed support for Fluent (BLEND) and said users in eligible regions can already generate deposit addresses, though deposits only become active once the asset issuer enables transfers. “Spot trading for BLEND will allow users to buy and sell the token directly on the platform, as opposed to derivative or futures-based exposure,” Coinbase’s listing note states, underscoring that the asset will be available in the cash market rather than via leveraged products.

New altcoin, thin float, high volatility risk

Fluent is a web3 platform whose native token, BLEND, is designed to sit at the center of its ecosystem for functions such as payments, governance, and incentives. According to CryptoRank, Coinbase is acting as a “primary launch platform” for BLEND as part of a wider collaboration focused on token distribution, developer onboarding, and educational content.

The timing aligns with BLEND’s initial exchange rollout, with MEXC and KuCoin both scheduling BLEND/USDT spot markets to open at 13:00 UTC on April 24, 2026, while Bybit has teased a forthcoming listing. Social posts from BSCNews noted that “leading exchanges @Coinbase and @krakenfx have scheduled $BLEND spot trading to begin today, April 24, 2026, once liquidity conditions are met,” highlighting a coordinated launch across multiple venues.

On-chain and order-book data suggest traders should brace for heavy volatility. A recent flow analysis from Streetbrief put BLEND’s market capitalization at roughly $1.85 million with only about $783 in 24‑hour volume ahead of the Coinbase listing, an “extremely illiquid” profile that can magnify both upside and downside moves when fresh demand hits.

Analysts expect that access via a BLEND–USD pair on Coinbase could pull in U.S.-based retail flow seeking high‑beta exposure, but warn that thin float and tight liquidity bands make the token particularly vulnerable to sharp intraday spikes and drawdowns in its early trading sessions.

South Africa’s 2026 capital flow draft recasts crypto as “capital,” tightening FX controls with declarations, approvals and sanctions as Africa’s biggest market matures.

South Africa’s National Treasury has released its Draft Capital Flow Management Regulations for 2026, a sweeping overhaul that explicitly classifies crypto assets as “capital” and pulls them into the country’s foreign exchange control framework for the first time. The proposal, published on April 17 and now open for public comment, aims to replace the 1961 Exchange Control Regulations and align South Africa’s regime with recommendations from the OECD and the Financial Action Task Force (FATF) on combating money laundering, terrorist financing, and illicit financial flows.

According to the draft, crypto assets are now treated as a channel through which capital can be imported and exported, placing them alongside foreign currency, gold, and securities rather than outside the regulatory perimeter. National Treasury and the South African Reserve Bank said in a joint statement that the amendments are intended “to address gaps in the current regulations, including in relation to cross‑border crypto asset transactions,” and to remove “any ambiguity regarding the declaration of foreign assets.”

Prior approval, declarations, and tougher sanctions

The new framework introduces authorised crypto asset service providers, transaction thresholds, mandatory declarations, and stiffer administrative sanctions for non‑compliance. In practice, this could mean that certain cross‑border crypto transfers will require prior approval from authorities, while residents and visitors may have to declare digital asset holdings above thresholds set by the finance minister, with the risk of seizure or forced sale if they fail to do so.

Bitcoin.com reported that draft rules “require visitors to declare crypto or face up to 5 years in prison,” and grant border officials powers to search devices for coins such as Bitcoin and other tokens suspected of being moved in violation of capital controls. Business Insider Africa added that the same regulations could “require residents to declare and sell certain crypto, gold and foreign currency holdings to the National Treasury” if they exceed those thresholds.

National Treasury insists the overhaul does not amount to a ban on digital assets but a modernization of control tools. “The policy emphasis shifts away from transaction‑by‑transaction pre‑approval towards reporting, traceability and risk‑based oversight, particularly in relation to illicit financial flows and capital flight,” the South African Institute of Taxation wrote in a commentary, describing the approach as a “pragmatic acknowledgment that value now moves across borders digitally.”

Africa’s largest crypto market under tighter watch

The timing is significant for a country that has emerged as the continent’s biggest crypto hub by volume and venture funding. Chainalysis data cited by Mariblock show that Sub‑Saharan Africa received more than $205 billion in on‑chain value between July 2024 and June 2025, with South Africa accounting for about $35 billion of that total, second only to one other market in the region.

Market research from IMARC Group estimates that South Africa’s cryptocurrency market reached roughly $11.18 billion in 2024, driven by both speculative trading and real‑world use cases such as remittances and hedging against domestic currency volatility. A CV VC report highlighted that the country captured 18% of all African blockchain venture capital, with blockchain deals representing 7.4% of total VC funding on the continent — more than double its approximate 3.2% share globally.

Those figures, combined with South Africa’s exit from the FATF grey list in late 2025 and preparations for the next assessment cycle starting mid‑2026, help explain the urgency behind the draft. Treasury officials argue the rules are a “vital prerequisite” for modernizing the financial architecture and shutting down channels for illicit flows, even as critics warn they could chill innovation and push activity into less regulated jurisdictions if implemented heavy‑handedly.

$178M in crypto liquidations over 24 hours show a choppy, leverage‑heavy market where both long and short traders are getting whipsawed out of positions.

The shakeout came as Bitcoin hovered near $77,487, down about 0.18% on the day, with more than $121 million in BTC futures positions liquidated over the same period, according to Coinglass’s BTC dashboard. Open interest in Bitcoin futures remains elevated at around $56.49 billion, suggesting leverage is still high even after the flush. Coinglass notes that it aggregates liquidation figures across perpetual swaps and dated futures on venues such as Binance, OKX, and Bybit to map total leverage washouts.

Range‑bound chop punishes both bulls and bears

The almost perfectly balanced split between long and short liquidations points to a market swinging back and forth within a tight range rather than trending decisively in one direction. When volatility spikes inside narrow bands and price repeatedly reverses around key levels, over‑leveraged traders on both sides can be wiped out in quick succession as stop‑losses and margin calls cascade through order books.

Coinglass’s long/short ratio indicators have flagged this tug‑of‑war dynamic for weeks, with futures positioning oscillating around parity rather than skewing clearly bullish or bearish on major pairs. That pattern often precedes large “breakout” moves once one side finally overwhelms the other, but in the interim it tends to produce exactly the kind of two‑sided liquidation profile seen in today’s $178 million tally.

For altcoins and smaller‑cap tokens, the impact can be even more violent, as thinner liquidity and higher funding‑rate sensitivity magnify forced selling and buying. With derivatives still driving a large share of total crypto trading volumes, the latest data underscores how quickly sentiment can flip — and how costly it can be to run high leverage in a market that has not yet chosen a clear direction.

Hyperliquid whales now hold $3.66B in nearly balanced perp positions, turning the on‑chain DEX into a real‑time gauge of institutional crypto sentiment.

Whale traders on Hyperliquid, one of the fastest‑growing on‑chain derivatives exchanges, are currently running $3.66 billion worth of open perpetual futures positions, according to fresh figures from Coinglass. Of that total, $1.854 billion, or 50.64%, is parked in long exposure, while roughly $1.8 billion sits in shorts, leaving a near‑neutral long/short ratio of 1.03 that reflects finely balanced conviction among the platform’s largest accounts.

Coinglass, which tracks whale activity on Hyperliquid through its dedicated whale tracker, notes that it aggregates large perpetual positions and marks them to market in real time to give traders “a better understanding of whale behavior and smarter trading decisions.” Its long/short ratio dashboard for Hyperliquid is designed to “quickly assess market sentiment and positioning, analyze trader behavior, and enhance risk control and trading strategy decisions,” making today’s almost symmetric split a clear signal of indecision rather than one‑sided speculation.

Hyperliquid cements role as on‑chain perps heavyweight

The sheer size of the $3.66 billion whale book underscores how Hyperliquid has evolved into a genuine institutional‑scale venue in the perpetual futures market. A recent MEXC research note highlighted that the exchange processed about $492.7 billion in derivatives volume in the first quarter of 2026, pushing it into the global top‑10 alongside incumbents such as Binance, OKX, and Bybit.

Separate analysis from IndexBox, citing data from Yahoo Finance, CryptoRank, and DefiLlama, said Hyperliquid handled roughly $40.7 billion in perp volume over a single seven‑day stretch, with about $9.57 billion in open interest — more than all major rival perp DEXs combined over the same window. In January 2026 alone, Hyperliquid facilitated over $208 billion in perpetual futures turnover, capturing 5.38% of total centralized exchange perpetual volume, its highest market share on record, according to a post by market analyst Jean‑Pierre Palomba‑Marin.

This combination of deep liquidity, fully on‑chain transparency, and large, nearly balanced whale positioning makes Hyperliquid a real‑time barometer of institutional‑level sentiment in crypto. With the long/short ratio hovering just above 1.0 and billions of dollars committed on both sides, the data suggest that big traders are positioned for volatility but not yet prepared to bet aggressively on either a sustained rally or a deeper drawdown.

Senator Bernie Moreno’s end‑of‑May ultimatum has turned the CLARITY Act into Congress’s last credible chance this cycle to set U.S. crypto market‑structure rules before politics and bank lobbying slam the window shut.

At a Washington event on April 22, Senator Bernie Moreno (R‑Ohio) dropped the optimism and set a hard line: the CLARITY Act must clear Congress by the end of May or U.S. crypto market structure legislation is effectively dead for this cycle. “I think we’re going to get it done by the end of May,” he said, but he has also warned that if the bill isn’t passed by then, digital asset legislation “will likely be impossible” to advance for the foreseeable future as the midterm calendar takes over.

Moreno’s ultimatum comes as the Senate Banking Committee still hasn’t held a single formal vote on the package, even though the House approved its version 294–134 in July 2025 and the Senate Agriculture Committee cleared its own text back in January. As Disruption Banking and Galaxy Research have both mapped out, the bill must now run a five‑step gauntlet in a matter of weeks: a Banking Committee markup, a 60‑vote Senate floor passage, reconciliation with the Agriculture version, reconciliation with the House bill, and finally President Donald Trump’s signature.

Bank noise, DeFi text, and a shrinking calendar

If Moreno is playing bad cop on timing, he is even blunter on bank pushback around stablecoin yield. At the DC Blockchain Summit he dismissed the backlash outright: “There’s a lot of noise in the market, but most of it is fake,” he said, arguing that banks “also need to innovate” instead of trying to kill yield‑bearing stablecoin products in committee. His comments landed just as reports emerged that the North Carolina Bankers Association was urging member banks to call Senator Thom Tillis’s office to oppose a hard‑won stablecoin yield compromise.

On April 20, industry lobby group the Digital Chamber sent a formal letter to Senate leadership pressing for an immediate markup, warning that further delay would turn the CLARITY Act into another lost opportunity for market‑structure reform. Senator Cynthia Lummis (R‑Wyo) has said DeFi provisions in the bill are already finalized and called this “our last chance,” while Coinbase Chief Policy Officer Faryar Shirzad has publicly projected an April markup and a May floor vote if leadership moves.

“The US Senate Banking Committee is unlikely to consider the CLARITY Act, a bill to regulate the crypto market, in April. Discussion of the document may be postponed until May,” says Yuliya Barabash, founder and managing partner at the law firm SBSB Fintech Lawyers.

The main obstacle remains the regulation on rewards for storing stablecoins. Banking industry representatives fear that high returns from stablecoins will lead to an outflow of deposits from traditional institutions. This could undermine the financial stability of smaller institutions. According to Tillis, negotiators need more time to find a compromise between banks and crypto companies.

-Yulia Barabash

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That schedule now runs head‑on into another priority: the nomination of Kevin Warsh as Trump’s pick to replace Jerome Powell as Fed chair, a process that is already burning Banking Committee time in late April. Every day the Warsh hearing occupies the agenda is a day the markup does not happen, and Congress is due to leave town for Memorial Day recess on May 21, leaving roughly three working weeks in May to get Democratic votes and clear a 60‑vote threshold on the floor.

Prediction markets flash amber as capital looks abroad

For traders, the legislative clock is now a tradable variable. On Polymarket, odds that the CLARITY Act is signed into law in 2026 climbed from around 38% to the mid‑40s after Moreno’s April 22 remarks, but remain far from a confident yes. One recent update pegged the “yes” probability at roughly 44%, even after earlier spikes above 80% when White House adviser Patrick Witt signaled that remaining hurdles were “toppling fast.” Finbold noted this week that expectations for 2026 passage have been “slashed” by about a third in just five days amid Senate delay.

Treasury Secretary Scott Bessent has repeatedly warned that every month of U.S. dithering pushes digital asset innovation toward hubs like Dubai and Singapore, which are actively courting American crypto capital with clearer licensing, tax, and tokenization regimes. That warning is backed by hard numbers: Q1 2026 saw a record $297 billion in global venture funding, with growing slices aimed at crypto and AI‑adjacent infrastructure, while Y Combinator made its first stablecoin investment this April.

With or without the CLARITY Act, that capital is going to move. The difference, as Moreno and industry advocates keep stressing, is whether it moves under a U.S. legal framework that offers institutional guardrails and SEC‑CFTC clarity — or whether Washington runs out the clock and watches its last real shot at shaping the next decade of crypto market structure vanish with the May recess gavel.

Polymarket catapulted Waller’s Fed chair odds from 27% to 85% after reports the DOJ will drop its criminal probe into Jerome Powell, clearing a key Senate roadblock.

Prediction markets have dramatically repriced the odds that Christopher Waller will become the next chair of the Federal Reserve after fresh signals that the Department of Justice will shut down its criminal case against Jerome Powell. On Polymarket, contracts tied to the outcome “Waller will be confirmed as Chairman of the Federal Reserve before May 15” have jumped from around 27% to roughly 85% in short order, a 211% relative increase that reflects traders’ belief that the main political roadblock is about to vanish.

While the specific Waller market is separate from Polymarket’s higher‑volume “Who will be confirmed as Fed Chair?” and “Kevin Warsh confirmed as Fed Chair by…?” contracts, the underlying dynamic is the same: odds are reacting to developments in the Powell investigation and the Senate Banking Committee’s posture. In the broader Fed chair contract, Kevin Warsh still leads with about a 94% implied probability over other contenders such as Judy Shelton and Michelle Bowman, but short‑dated timing markets have become far more sensitive to any news about Powell’s legal overhang.

According to a detailed chronology compiled on Wikipedia, federal prosecutors opened a criminal inquiry into Powell early this year related to alleged cost overruns on renovations of two historic Fed buildings, prompting an unusually public clash between the central bank and the Trump administration. As of April, Powell has not been charged with any crime, and the Department of Justice formally dropped the investigation on April 24, clearing a key condition that Senator Thom Tillis (R‑N.C.) had tied to his support for any successor.

Tillis, a senior member of the Senate Banking Committee, had repeatedly warned that he would use his position to block Trump’s nominees from getting a committee vote so long as the DOJ probe remained open. Local outlets such as KATV and KOMO News reported this week that Tillis “will continue to block President Trump’s nominee until the Justice Department ends its probe of current Chair Powell,” effectively making the DOJ’s decision a gating item for any confirmation timeline.

With that obstacle now expected to fall away, traders are marking up the probability that the Senate can move quickly enough to confirm Waller before Powell’s term officially ends on May 15. Polymarket’s live odds page notes that its Fed chair timing contracts resolve to “yes” if the nominee secures Senate confirmation by the deadline, and “no” if the nomination is withdrawn or rejected — a structure that helps explain why even small shifts in the DOJ’s stance can produce outsized swings in short‑term probabilities.