Zcash jumps 10% as Bitcoin steadies near $87,000

Zcash (ZEC) surged 10% to just above $1,616 in Asian trading, posting the strongest gain among major cryptocurrencies. Bitcoin (BTC) remained near $86,900, up about 1% over the previous 24 hours.

Market performance of leading tokens

Other large tokens also posted gains: XRP rose 6% to around $1.62, HYPE advanced 4% to nearly $97, and DOGE added 4%. Ether (ETH), BNB and SOL each increased by less than 1%, while TRX was the only major token to decline, slipping 1%.

Legislative and regulatory backdrop

The market tone was influenced by two Washington developments. The House Financial Services Committee approved the American Reserve Modernization Act, moving the proposal toward a full House vote. The bill would place roughly 325,000 BTC held by the Treasury into a Strategic Bitcoin Reserve, require a 20‑year holding period, and mandate quarterly audits.

Separately, the U.S. Securities and Exchange Commission issued an innovation exemption that permits on‑chain trading of tokenized U.S. stocks, filling a gap left by the stalled CLARITY Act. Analysts said the exemption boosted confidence in tokenization‑related assets.

Broader market context

Bond yields fell as oil prices continued to decline, with Brent crude dropping below $100 a barrel for a sixth consecutive session. The Japanese yen weakened after the Bank of Japan’s split‑vote rate hike, signaling a gradual move toward tighter monetary policy.