The value of Shiba Inu rises by more than 70% and reaches a new all-time high. Zcash grows by almost 40% after Grayscale includes it in its list of cryptocurrency funds.

Last week, the cryptocurrency market had ups and downs that have caused the prices of many altcoins to fall. Despite that, about 50% of cryptocurrencies show increases above 70%, according to Live Coin Watch.

Shiba Inu (SHI) led the weekly top by hitting a new all-time high of USD 0.00004 on October 24th. In the case of Zcash (ZEC), the cryptocurrency is now part of the cryptocurrency funds of Grayscale.

While Solana (SOL) appears on the cryptocurrency list of Argentine exchange SatoshiTango, Avalanche (AVAX) tries to find a space on Bloktopia.

Concerning the price of Bitcoin (BTC), it has been on the rise since last week but has had some ups and downs. Although the cryptocurrency lost 1.4% of its value, it reached a new all-time high above USD 66,000.

The approval of the first American exchange-traded funds by the US SEC contributed to that all-time high.

The value of Ether (ETH), the cryptocurrency of Ethereum, rose by more than 5.4% during the week. The cryptocurrency traded between USD 3,704 and a high above USD 4,300, which it reached on October 21st. That spike allowed ETH to exceed the all-time high it had hit on May 12th, when its price was USD 4,362.

The price of Shiba Inu Reaches a New All-Time High

Shannon Bray, a candidate for the US Senate, favors the cryptocurrency meme Shiba Inu, based on the Ethereum network. He defended SHIB by posting an image of the dog nicknamed Floki on his Twitter profile.

Bray stated that the price of SHIB could reach a new all-time high by recovering the zone of USD 0.00003, as there would be less resistance. The ATH occurred on October 24th, when it peaked at USD 0.000045.

The price of the meme cryptocurrency has been consistently bullish since October 23rd. It has skyrocketed in recent days, and its average weekly rise is above 71%.

Shiba Inu has a market capitalization of approximately USD 20.7 billion, and its daily trading volume is around USD 7.9 billion.

Zcash Is Part of the Cryptocurrency Funds of Grayscale

Crypto asset manager Grayscale announced the opening of three new altcoin-based trusts, including one for Zcash (ZEC). The Twitter message explains there is a trust for Stellar (XLM) and another for Horizen, in addition to ZEC, a privacy-based cryptocurrency.

Those three trusts now complete fifteen cryptocurrency-based funds managed by Grayscale. Of these, ZCSH represents the investment product that ranks seventh.

Amid those advances, the price of ZEC increased by more than 39% in one week. On October 24th, the value of the cryptocurrency reached USD 188.9, not seen since 2018.

ZEC has a market capitalization above USD 2 billion, and its daily trading volume is around USD 427 million.

The price of Bitcoin and tweets by renowned figures affect the value of cryptocurrencies like Shiba Inu and Zcash. Last week’s market was bumpy, but those two altcoins managed to remain to the upside.

By Alexander Salazar

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