Bitcoin · China · SEC · CoinDesk
Bitcoin rises above $81,000, while NEAR rallies 23% on Zcash swap traffic
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Bitcoin traded above $81,000 as of Monday Asian morning hours, up less than 1% over 24 hours and adding to the ground it has taken since the U.S. Securities and Exchange Commission cleared a path for onchain trading of tokenized U.S. stocks on Thursday, CoinDesk data show.
Key facts
- Elsewhere, ZEC gained 3% to above $1,500 and BNB 2% to nearly $777
- NEAR was the standout among the major tokens, up roughly 23% to above $4
- S&P 500 futures rose less than 1% and Nasdaq 100 contracts a little more
- Jeff Mei, chief operating officer at exchange BTSE, put the weekend’s bitcoin spike down to the SEC clearing onchain trading of tokenized U.S. stocks and the short squeeze that followed
Summary
Bitcoin traded above $81,000 after the Securities and Exchange Commission cleared a path for onchain trading of tokenized U.S. stocks, helping spur a short squeeze. NEAR surged about 23% as its cross-chain swap service attracted heavy ZEC trading, including a sixfold increase in daily ZEC volume routed through the platform. Asian stocks and U.S. equity futures rose after encouraging U.S.-China trade talks, while falling oil prices eased inflation concerns. Securities and Exchange Commission cleared a path for onchain trading of tokenized U.S. stocks on Thursday, CoinDesk data show. NEAR was the standout among the major tokens, up roughly 23% to above $4.