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Crypto

Zcash breaks $1,600 after new ETP debuts in Europe, but rally started earlier

Zcash (ZEC) rose above $1,600 as a new exchange-traded product launched in Europe expanded investor access. 21Shares listed a physical-backed Zcash ETP on Euronext Paris and Amsterdam under the ticker ZCASH. The product charges a 2.5 percent annual fee and uses BitGo as custodian. CryptoSlate reported Zcash had already been trading around $1,540 before the listing, with interest in a separately launched Grayscale Zcash ETF cited as a driver.

Crypto

Tron USDT supply hits $87.9 billion, overtakes Ethereum

Tron recorded $87.9 billion in circulating USDT in the second quarter, overtaking Ethereum. Tron also processed $2.1 trillion in USDT transfers over the period, while stablecoin supply and network activity hit record highs. Messari said Tron\'s stablecoin supply rose 4.1 percent from the previous quarter to $89.2 billion, with USDT accounting for 98.5 percent. DeFi and decentralised exchange activity declined.

Crypto

OKB only token to beat bitcoin returns since 2021 peak, analysis shows

Bitcoin has outperformed most altcoins on a long-term investment basis, with OKB, the OKX exchange token, the only one to maintain higher returns than bitcoin since the 2021 bull-market peak, an analysis showed. In the past 24 months, only 22 tokens beat bitcoin’s returns. About 32 percent of those were exchange tokens. Many former outperformers have plunged from record highs, and most altcoins remain weak overall.