Bitcoin Hits $81k as SEC's Tokenized Stock Move Boosts Crypto Market
Bitcoin prices rose to just over $81,000 on Monday morning in Asia, increasing by less than 1% from 24 hours prior. The surge follows the U.S. Securities and Exchange Commission's (SEC) clearance of tokenized U.S. stocks for onchain trading last Thursday.
The major cryptocurrency has been gaining ground since then, with CoinDesk data showing its price increase.
NEAR, however, was the standout performer among the major tokens, jumping 23% to just over $4. This significant increase is attributed to the rising traffic on Zcash swap through NEAR Intents, a swap service built on the NEAR blockchain that enables users to trade one token for another without moving funds between chains.
Major consumer wallets such as ZODL and Vizor have integrated NEAR Intents to offer ZEC swaps. As a result, daily ZEC volume routed through the service has seen a sixfold increase in just one week, with NEAR becoming the routing layer for one of the most heavily traded tokens on the market.