Bitcoin Holds Ground as Institutions Fuel Crypto Surge
BTC has been consolidating around $84,800 after briefly touching $85,000 earlier in the day. It's down about 0.7% over the past 24 hours.
SOL is also consolidating its gains from a recent pullback, trading at around $120. The asset is down about 0.9% over the same time frame.
ZEC has been on a tear, up a staggering 95% this month and an incredible 2000% over the past year. This surge in value comes as institutions continue to buy aggressively, with the BTC spot ETF seeing $999 million in net inflows on September 21, its strongest day of the year.
The Grayscale ZCSH spot ETF, which tracks a basket of privacy assets including ZEC, has seen over $700 million in inflows since its launch. This influx of capital into the sector has driven up the value of ZEC, making it the leading privacy coin and overtaking Monero.