Crypto Market Cap Rises 1.2%, Bitcoin Up 1.4% as SEC Lifts Exemption

The global crypto market cap rose 1.2% to $2.73 trillion over the past 24 hours, with Bitcoin trading at $77,488.22, up 1.4% on the day but roughly flat on the week at 0.7%. The SEC's Innovation Exemption lifted markets after being approved for tokenized NMS stocks to trade on approved venues.

The exemption allows eligible Tokenized Securities Venues to trade tokenized NMS stocks through automated market makers and liquidity pools, with issuers given 30 days to object before trading begins. Synthetic tokenized stocks are excluded entirely. AMC CEO Adam Aron praised the move and urged Robinhood to apply the same standard to its overseas stock token business.

Zcash price surged 23% in the 24 hours after Paradigm co-founder Matt Huang disclosed that the firm holds Zcash, with open interest rising 37.84% to $2.2 billion and a funding rate of negative 0.0253%. Multiple newly created wallet addresses withdrew large ZEC positions from exchanges over the following two days.