Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000
Bitcoin prices remain stable near $87,000 while Zcash and other tokens see gains following positive legislative developments in the U.S. The House Financial Services Committee's approval of the American Reserve Modernization Act and SEC regulatory exemptions have boosted market confidence.
Why it matters
Legislative progress toward a Strategic Bitcoin Reserve and clearer tokenization rules are driving institutional and retail interest in digital assets.
Bitcoin held near $86,900, up 1% over 24 hours. XRP added 6% to just above $1.62 and HYPE 4% to nearly $97. DOGE picked up 4%, while ether, BNB and SOL each gained under 1%. TRX was the only large token to fall, down 1%.
Two pieces of Washington news sit behind the tone, some analysts said in an email to CoinDesk. One is the House Financial Services Committee approved the American Reserve Modernization Act on Sept. 17 by 28 votes to 21, sending it toward a full House vote.
The second is the U.S. Securities and Exchange Commission stepping in where Congress has not. With the CLARITY Act stalled, the regulator used an innovation exemption to clear a path for onchain trading of tokenized U.S. stocks within a day, a move Dicarlo said has lifted tokenization-linked tokens and broader confidence.
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