It seems that the cryptocurrency market is moving dynamically. Bitcoin recently surged sharply to touch $78K , causing traders who bet on short positions to lose over $500 million in a single day. It appears that institutional money is starting to flow back in again.



What’s interesting is that Zcash is really gaining momentum. I hear that Foundry has started mining this coin and has captured 29% of the hash rate in just one month. The price of ZEC has now risen to $536, which is over a 1000% increase in the past year. It seems investors are becoming more interested in privacy coins.

Another good news is that institutional money flowing into crypto ETPs surged to $1.1 billion last week, the highest this year. Most of it is flowing into Bitcoin and Ethereum, indicating that they are not just speculating short-term but are seriously accumulating crypto assets for long-term portfolios.
BTC-1.46%
ZEC2.84%
ETH-2.92%
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