European Stocks Open Higher, FTSE 100 Up Over 1%

May 6 — Per HTX market data, ZEC briefly surged above $600 and is now trading at $592.66, posting a 24-hour gain of 40.16%. In a report today, Multicoin Capital disclosed it has made a significant investment in Zcash since February, citing expectations that demand for privacy-focused assets will accelerate.

May 6 — Ongoing Middle East tensions are driving fresh pressure on U.S. gasoline prices. The national average for regular unleaded gas hit $4.54 per gallon on Tuesday, according to the American Automobile Association (AAA) — marking the first time it has topped $4.50 since July 2022. The current price is just 50 cents shy of the all-time high of $5.01 per gallon set in June 2022. Seasonally, this is the highest price on record for this time of year. Former President Donald Trump has repeatedly pledged gasoline costs will drop after the end of the Iran conflict. But the longer prices stay elevated, the higher the political risk for the Republican Party heading into November’s midterm elections. Additionally, U.S. national gasoline inventories are at their lowest level for this period since 2014. Morgan Stanley forecasts summer inventories will tighten further, potentially hitting a new all-time low for the season. (FXStreet)

May 6th — Cryptocurrency custodian Taurus has secured a MiFID II investment license in Cyprus, granted by the Cypriot Securities and Exchange Commission (CySEC), the Mediterranean island’s regulatory body. The license lets Taurus offer MiFID-regulated investment services for tokenized financial instruments to banks and asset managers across the European Union (EU). It also enables the firm to support secondary market trading of tokenized bonds, fund shares, stocks and structured products.

On May 6, per Bitget market data, U.S. (WTI) and Brent crude oil saw their short-term losses accelerate. WTI crude plummeted 4.00% on the day, last trading at $99.48/bbl. Brent crude dropped below $105/bbl, posting a 3.70% daily decline.

On May 6, Hyperinsight monitoring shows ZEC has surged again in the past hour. The token trades at $590 on Hyperliquid, posting a 40% gain over the last 24 hours. The biggest winner of this rally is on-chain trader Loracle, whose long position profits have climbed with the market—hitting $6.6 million as of press time. This position was opened with 10x leverage on April 24 (two weeks ago), when ZEC was around $340. Since then, Loracle has continuously rolled over positions and added leveraged longs, gradually growing the long position size to $19.6 million with an average entry price of $387. Loracle currently holds the largest on-chain ZEC long position and has not taken profits yet. Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

On May 6, official sources confirm that institutional crypto broker FalconX has announced a partnership with prediction market platform Kalshi. FalconX has integrated its prime brokerage and derivatives capabilities with Kalshi’s compliant trading platform, allowing clients to access exposure to the crypto market, macroeconomics, global elections, and hedge against event-driven risks.