ZEC has climbed roughly 19-fold in a year, yet Grayscale says its sub-1% share of Bitcoin’s market cap leaves room for further upside. Zcash could emerge as a meaningful challenger to Bitcoin’s dominance among digital assets as the rapid adoption of artificial intelligence puts a premium on financial privacy and fuels concerns over AI-powered surveillance, according to Grayscale. In a new research report, Grayscale head of research Zach Pandl said Zcash (ZEC) has “second mover advantages” that could help it challenge Bitcoin’s (BTC) entrenched network effects, something previous alternatives such as Litecoin (LTC) have failed to achieve. Central to Pandl’s argument is financial privacy. Zcash can shield transaction information, which Grayscale argues could become increasingly valuable as AI systems become better at analyzing financial activity at scale. Read more
Bitcoin and crypto joined US stock markets in fresh gains after Nvidia Q2 earnings beat expectations by around $4 billion. Bitcoin (BTC) rebounded toward $81,000 around Thursday’s Wall Street open as Nvidia earnings boosted US stocks. Key points: Read more
Canaan, American Bitcoin and Cango jumped as much as 67% as renewed crypto demand showed BTC exposure can still drive mining equities despite the industry’s AI push. Bitcoin’s August rally has revived some of the mining sector’s most beaten-down stocks, reversing a trend that has favored miners pivoting toward artificial intelligence and high-performance computing and suggesting investors may once again be rewarding direct exposure to Bitcoin. In its latest Miner Weekly newsletter, BlocksBridge Consulting reported that Bitcoin’s (BTC) roughly 23% rally over the past week outpaced most AI-linked infrastructure stocks. Three beaten-down Bitcoin mining companies — Canaan, American Bitcoin and Cango — gained between 41% and 67%. By comparison, CoreWeave rose about 21%, Nebius gained 17% and IREN advanced 15%, while some miners with heavier exposure to AI and HPC were flat or declined. Read more
Bitcoin price analysis reveals convergence of multiple trend lines and liquidity structures around spot price, keeping upside in check. Bitcoin (BTC) has struggled to flip $80,000 into support in recent days, but bulls’ real challenge is still to come, new research says. Key points: Read more
US spot Bitcoin ETF inflows slowed to $232.1 million as an eight-day streak reached $2.8 billion, while XRP funds posted their biggest inflow since Jan. 5. US-listed spot Bitcoin exchange-traded funds (ETFs) drew $232.1 million in net inflows on Wednesday, slowing from the previous day while extending their inflow streak to eight trading days. The latest inflow was down about 26% from Tuesday’s $314.4 million and marked the smallest daily total since Aug. 18, according to SoSoValue data. The eight-session streak has attracted about $2.8 billion, cutting year-to-date net outflows to about $2.03 billion. Cumulative net inflows rose to $54.6 billion, while total net assets reached $98.6 billion. Read more