Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000 — SkimNews
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- Zcash rose 10% to just above $1,616 during Asian morning hours, the largest gain among major tokens, per CoinDesk data
- Bitcoin held near $86,900, up 1% over 24 hours and back above its 50- and 200-week moving averages for a ~29% gain over 35 days, according to RootstockLabs' Tony Dicarlo
- XRP added 6% to above $1.62, HYPE climbed 4% to nearly $97, and DOGE gained 4%, while ether, BNB, and SOL each rose under 1% and TRX was the only major token to fall (down 1%)
- The House Financial Services Committee approved the American Reserve Modernization Act on Sept. 17 by a 28-21 vote — the furthest a Strategic Bitcoin Reserve bill has progressed in Congress — which would place roughly 325,000 government-held bitcoin into a Treasury reserve locked for at least 20 years with quarterly audited proof and a study on buying more without adding to the deficit
- The SEC used an innovation exemption to clear onchain trading of tokenized U.S. stocks within a day, filling the gap left by the stalled CLARITY Act and driving sharp rallies in tokenization-linked tokens
- Broader markets saw bonds rally as Brent crude dropped under 1% to about $99 a barrel — a sixth straight losing session, the longest in a year — after Trump said U.S. officials had a 'very good' meeting with Iranian envoys in New York
- The Bank of Japan raised rates on a divided 7-2 vote, a split traders read as signaling a slow path to tighter policy, leaving the yen weaker and risk-funded flows intact
Why it matters: The American Reserve Modernization Act is the furthest a Strategic Bitcoin Reserve bill has ever advanced in Congress, and if enacted would lock roughly 325,000 seized bitcoin into a 20-year Treasury reserve — a structural supply squeeze on top of the ~29% rally over 35 days. The SEC's parallel innovation exemption gave tokenized-stock trading a regulatory green light in under 24 hours, filling the CLARITY Act vacuum and directly explaining the breadth of the altcoin move beyond just Bitcoin.
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