Zcash Reigns Over Bitcoin, XRP Skates 16% In New ETF Record, $1.2B BTC Buyfires!

TL;DR

• Hoskinson Backs Zcash: Cardano founder states Zcash ideologically defeats Bitcoin by preserving original cypherpunk anonymity via zk-SNARKs.
• XRP ETF Record: U.S. spot XRP ETF inflows hit $94.71M in May, jumping 16% over April to set a new 2026 milestone.
• $1.2B Bitcoin Buy: Corporate whale Strategy acquired 15,466 BTC using STRC preferred shares, raising total reserves to 834,335 BTC.
• Crypto Market Outlook: Bitcoin tests crucial support near $78,000 following $995M in weekly ETF outflows ahead of FOMC minutes.

Cardano founder explains why Zcash ideologically surpasses Bitcoin

With Wall Street increasingly interested in privacy-focused cryptocurrencies, Cardano’s Charles Hoskinson argues that Zcash (ZEC) better embodies the original vision of digital cash compared to Bitcoin. He believes that when judged by the principles outlined in early cypherpunk writings, Zcash is conceptually superior to Bitcoin.

Charles Hoskinson argues that Bitcoin has lost a key feature it originally had: privacy. He believes Bitcoin is now too public, controlled by institutions, and easily traceable. In contrast, Zcash uses technology called zero-knowledge proofs to completely hide who is involved in a transaction and how much money is being sent.

Charles Hoskinson also pointed to writings from 1993 by Hal Finney, who envisioned digital cash as a way for people to regain control of their personal information, free from government oversight. Hoskinson believes Zcash achieved this vision more effectively than Bitcoin, with its more private blockchain technology.

Charles Hoskinson’s support for Zcash sparked strong criticism from Bitcoin enthusiasts. They argue that Zcash will always be less trustworthy than Bitcoin due to a built-in system where developers automatically receive 25% of the rewards from each block mined. This is often called a ‘hidden premine’ and differs significantly from how Bitcoin was initially launched.

I’ve been following the debate, and honestly, I think some criticisms of Charles Hoskinson’s points are valid. It seems like he’s trying to create a narrative, but the facts don’t entirely support it. For example, Hal Finney, a really important figure in Bitcoin’s early days, passed away before Zcash even existed, so he couldn’t have been involved. Plus, his family is openly pro-Bitcoin, which makes the connection even more questionable.

This discussion is happening as Zcash is gaining popularity with institutional investors. Well-known figures like the Winklevoss twins and Barry Silbert are buying Zcash again, and Grayscale is considering turning its Zcash Trust into a standard exchange-traded fund (ETF).

Spot US XRP ETF inflows jumped 16% vs April, setting a new 2026 record

Large investors are continuing to buy more XRP. Recent data from SoSoValue shows that U.S. XRP ETFs saw $94.71 million in net inflows during the first part of May, which is a new monthly high for 2026 and a 16% increase compared to the $81.59 million seen in April.

As I’ve been tracking the market, we’ve seen a pretty uneven distribution of investor interest. Specifically, funds managed by Bitwise, Canary, and Franklin saw the biggest inflows in May. This activity has driven the total assets under management for U.S. XRP ETFs to nearly $1.18 billion.

Recent increases in investments were matched by a surge in activity on the XRP Ledger (XRPL). Data from Santiment shows that daily activity jumped to 48,453 active addresses – the highest level since late March. Over the past 24 hours, the network also saw 3,317 new wallets created, bringing the total number of active accounts to 7,856,080 and nearing a significant milestone of 8 million.

What’s notable about the recent market activity is the difference between what everyday traders are doing and what larger, more established investors are doing. Although the price of XRP briefly rose to over $1.54 before settling back into a trading range of $1.30 to $1.50, significant investors were consistently buying up available XRP through official financial channels.

Experts are observing that the recent increase in ETF holdings is creating solid support just below a key price level that has been difficult to surpass. If the price breaks through this level, it could signal a strong upward trend, potentially leading to a price of $8 – a significant milestone for this market cycle.

Strategy adds another 15,466 BTC to its portfolio

Strategy, a large corporate investor in Bitcoin, is continuing to buy significant amounts of the cryptocurrency through its innovative Stretch (STRC) preferred shares. Recent data from strc.live shows that between May 11th and 15th, Strategy added over 15,466 BTC to its holdings – worth more than $1.2 billion.

The company bought between $79,000 and $82,000 worth of Bitcoin. If confirmed, this purchase will bring their total Bitcoin holdings to 834,335.

Just a week prior, the company had only bought 535 BTC. Previously, in mid-April, when Strategy used a similar buying method around the $100 mark, they purchased 34,164 BTC when Bitcoin’s price was between $70,000 and $77,000.

Despite this, the model is still causing significant disagreement among financial experts. Peter Schiff, a prominent critic, has labeled the STRC structure a “typical centralized financial pyramid.” He believes investors are making an error by selling Bitcoin and instead investing in Strategy shares, chasing high returns.

Crypto market outlook: Bitcoin and the Warsh Factor 

Despite a change in leadership at the Federal Reserve and recent drops in investment fund holdings, Bitcoin’s price remains stable as investors look for clues about inflation.

Key checkpoints:

• Bitcoin price outlook: BTC is testing support near $78,000 after weekly ETF outflows reached $995 million. Strong buying interest is concentrated around $77,300, though a breakdown would open the door to a deeper correction.
• Macroeconomic triggers: The main focus this week is the FOMC minutes on May 20 at 22:00, which may reveal the Fed’s plans regarding interest rates. Markets will then monitor building permits data on May 21 at 16:30, while the main volatility event is expected on May 28 at 16:30 with the release of Core PCE data (previous: 0.3%) and U.S. GDP figures (previous: 0.5%).
• The Kevin Warsh factor: The new Federal Reserve chairman has officially replaced Jerome Powell. Market consensus views Warsh as supportive of crypto innovation, though inflation at 3.8% and pressure from the White House demanding lower rates are putting his independence under scrutiny.
• CLARITY Act breakthrough: The digital asset market structure bill passed the U.S. Senate Banking Committee by a 15-9 vote and is now awaiting a full Senate vote. The legislation lays the groundwork for legal institutional custody, while U.S. leadership is demanding a finalized bill ready for signature before July 4.
• Japan opens the gates: Financial giants SBI Securities and Rakuten Securities are preparing to launch crypto investment trusts (ETF-like products) by 2027.

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2026-05-17 16:32