ZEC gained 45% over the past week, extending its rally since Grayscale converted its Zcash Trust into an ETF that began trading Aug. 25. Zcash (ZEC) climbed to its highest price since 2016, extending a rally that has pushed the privacy-focused cryptocurrency’s market capitalization above $20 billion. ZEC reached $1,249.28 before retreating to about $1,195 on Monday, according to CoinGecko data. The token gained about 45% over the past week and 138% over 30 days. The rally leaves Zcash below its launch-era record. CoinGecko lists an all-time high of $3,191.93 on Oct. 28, 2016, when only a small supply of tokens was available. Read more
This week’s CPI and PPI prints, along with the Fed’s Sept. 16 rate decision, could determine whether Bitcoin can secure $80,000 as a support level. Bitcoin (BTC) sees its first weekly close above $80,000 since early May as clouds gather over the US inflation outlook. Key points: Read more
Citi and DBS completed their first tokenized cross-border transfer over the weekend, using Swift’s blockchain-based ledger to circumvent the constraints of traditional banking hours. Singapore-based financial services group DBS and American financial services giant Citi completed the first weekend tokenized cross-border payment between Singapore and the US on Saturday. The two companies executed the transaction using tokenized deposits via the Swift Digital Ledger to bypass the constraints of traditional banking hours, DBS announced on Monday. The deposit was finalized in minutes, which DBS called a “significant improvement” from the industry norm of as long as two business days for traditional cross-border transfers. Read more