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The S&P 500 slipped 0.28% from record highs as investors weighed AI momentum, rate cuts, and a prolonged government shutdown delaying key data. Gold steadied above $3,950 after dipping from record highs, supported by Fed rate cut bets and US government shutdown fears, though near-term momentum remains bearish below $4,000. The Coindesk Indices, which tracks the broader crypto market, fell 0.95% with Bitcoin and Ether down 2.00% and 3.66%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today’s top performer is ZEC, up 40.9% after Zcash’s integration with NEAR Intents drove monthly swap volumes to $800 million.
Zcash (ZEC) is a Bitcoin-based privacy coin using zk-SNARKs for confidential transactions, launched in 2016 by the Zerocoin Electric Coin Company and later integrated into JPMorgan’s blockchain for added privacy. Activity on NEAR’s intent-based system nearly doubled this month to over 120,000 users and $800M in swaps, driven by Zcash’s Zashi Wallet integration. Zashi now enables private swaps and payments via NEAR Intents, letting users convert assets like BTC, SOL, and USDC into shielded ZEC. The move boosts both NEAR’s cross-chain usability and Zcash’s market relevance amid its recent price surge.
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Bybit became the first crypto exchange to receive the UAE’s full Virtual Asset Platform Operator License from the Securities and Commodities Authority, enabling it to offer regulated trading, brokerage, custody, and fiat services. The milestone strengthens Bybit’s compliance-first global expansion, following its MiCAR and India licenses, and supports the UAE’s goal of becoming a global digital asset hub.
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Category | Flow (millions) |
GBTC | (12.2) |
Non-GBTC | (45.5) |
Total | (57.7) |
Yesterday, BTC spot ETFs saw $57.7M in net outflows, led by $45.5M from non-GBTC funds and $12.2M from GBTC.
Monad will open its MON token airdrop claim portal next Tuesday, marking the first step toward its long-awaited mainnet launch. Details on eligibility, tokenomics, and launch timing remain undisclosed but are expected soon. Backed by Paradigm with $225M raised, Monad aims to deliver a faster, EVM-compatible alternative to Ethereum, following a testnet launched in February featuring a growing DeFi and gaming ecosystem.