Let’s take a closer look at how the crypto market is preparing to close September.
Zcash, the second-largest privacy cryptocurrency, has broken out of an eight-year downtrend against Bitcoin, surging 70% in the past month and 130% year-over-year.
The breakout from a logarithmic descending channel dating back to 2017 has been amplified by influential crypto figure Mert’s advocacy for ZEC as a leading privacy solution, sparking broader community support.
Zcash (ZEC) one-month and one-year charts | Source: CoinMarketCap
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eToro has launched cryptocurrency staking services for US customers on September 29, offering support for Ethereum, Cardano, and Solana with six tiered reward levels ranging from 45% to 90% based on user tier status.
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According to the data provided by CoinShares, global digital asset funds managed by major firms, including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, recorded net outflows of $812 million last week.
The pullback followed a shift in market sentiment as hopes for two additional US rate cuts this year faded after stronger-than-expected economic data, notably revised GDP and durable goods orders.
ETF issuer 21Shares has submitted an amended S-1 for its planned Solana exchange-traded fund. The update clarifies how staking would be incorporated and how in-kind redemptions would be processed.
The revision comes amid a wave of similar amendments from other issuers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary.
In total, about nine Solana ETF applications are currently pending with the regulator.
Michael Saylor has just revealed that Strategy bought 196 BTC. The amount paid is nearly $22.1 million ($113,048 per Bitcoin).
As of Sept. 28, the company is holding 640,031 BTC. The total acquisition cost is close to $47.35 billion, with an average cost of BTC being $73,983.
