After its remarkable surge propelled ZEC into the top 10 of the cryptocurrency market, Zcash is about to reach another significant milestone. By market capitalization, the privacy coin is currently almost exactly behind Hyperliquid, with only a tiny difference between the two assets.
Can Zcash push Hype away？
As of today, Hyperliquid's market capitalization is $19.87 billion, while ZEC's is roughly $19.3 billion. Less than 3% of HYPE's current valuation, or roughly $570 million, separates the two. ZEC would need to trade between $1,178 and $1,180 to surpass HYPE if its capitalization stays the same.
ZEC/USDT Chart by TradingView
That target is not far away. At the moment, ZEC trades for about $1,144, and its 24-hour trading volume surpasses $1.07 billion. Over the past seven days, the token has also increased by about 1.15 percent, whereas HYPE has decreased by more than 6 percent. The capitalization gap is closing quickly as a result of this combination. The chart from Zcash demonstrates how aggressive the repricing has been.
ZEC stays up
As recently as August, ZEC was trading at about $500 before soaring to $600, $800, and ultimately $1,000. Before beginning its current erratic consolidation, the rally peaked at $1,280. Significantly, despite numerous corrections, ZEC has managed to stay above $1,000 thus far.
Additionally, the price is significantly higher than its major moving averages, maintaining the overall bullish structure. The RSI, in the upper 50s, has cooled from overbought territory, suggesting that some of the excessive momentum has already been eliminated. The immediate challenge lies around $1,160 to $1,200.
If HYPE stays close to its current valuation, Zcash would probably be able to overtake Hyperliquid by breaking through this area. The recent highs of $1,240–$1,280 would come back into focus above $1,200.
After such a dramatic rally, there is still a significant risk of a decline. If ZEC breaks below roughly $1,050–$1,080, it may return to the psychological $1,000 support. But for the time being, Zcash is remarkably close to changing its ranking. ZEC could surpass Hyperliquid and become the ninth-largest cryptocurrency by market capitalization with a mere 3 percent move.