The Crypto Market Is Creeping Upwards Across the Board

Market Overview

The crypto market is experiencing a broad upward trend, with Bitcoin showing stability and privacy coins, particularly Zcash, leading the gains. The overall market capitalization has increased by 1.3%, reaching $2.59 trillion, buoyed by a resurgence in the stock market which has rekindled interest in cryptocurrencies.

Bitcoin and Altcoin Performance

Bitcoin is currently trading at $78,000, marking its third consecutive day of gains after rebounding from the 50-day moving average. This cautious rebound suggests that while retail investors are showing interest in altcoins, institutional investors are taking a more conservative approach, selling ETFs in anticipation of a quieter market.

In terms of altcoin performance, Zcash has surged by 12.15%, leading the market, followed by Dash (+8%) and Toncoin (+6.3%). Other altcoins like Hedera, Ethereum Classic, and Cardano have shown minimal gains, indicating a healthy breadth of buying activity across the market.

Zcash's Surge

Zcash has notably surpassed its 2026 highs, reaching $688, and is targeting a price of $840, which would bring it back to levels last seen in early 2018. This surge follows a corrective pullback earlier in May, which is typical for volatile markets. The current rally in Zcash is significant as it marks a departure from its historical performance patterns during market peaks.

Crypto News Highlights

• US President Donald Trump has signed an executive order aimed at integrating cryptocurrencies into the traditional financial system, with a 180-day implementation period for new measures to support innovation.
• Union Investment has warned that the presence of US Treasury bills in the portfolios of Tether and Circle does not guarantee protection against liquidity crises, suggesting that their investments in gold and Bitcoin resemble speculative funds rather than conservative monetary instruments.
• According to Defillama, the total market capitalization of stablecoins has reached an all-time high of over $323 billion, with USDT and USDC making up approximately 59% and 24% of this total, respectively.
• BNB Chain developers have reported successful testing of the network's transition to post-quantum cryptography, although this has resulted in a significant drop in performance.