business
HYPE briefly overtakes Dogecoin, privacy tokens slide as US strikes on Iran rattle markets
Key takeaways
- Zcash (ZEC) dropped 5.2% over 24 hours to $619, the biggest pullback among the top 20 by market cap, though the token is still up 8.2% over the past seven days, per CoinDesk data.
- A 5% drop after that kind of run reads as profit-taking rather than fresh selling, since the structural buyers in privacy tokens have been adding through the rally, not distributing into it.
- Hyperliquid's HYPE token traded above Dogecoin's market cap during Asian hours before pulling back, with HYPE down 4% to $59 and DOGE$0.1013 off 0.8% to $0.1009.
Zcash (ZEC) dropped 5.2% over 24 hours to $619, the biggest pullback among the top 20 by market cap, though the token is still up 8.2% over the past seven days, per CoinDesk data. Monero (XMR) fell 4% to $378.
Both have been among the strongest performers across crypto over the past several weeks, with ZEC drawing institutional attention after Multicoin Capital's stake disclosure earlier this month and the broader narrative around privacy tokens.
A 5% drop after that kind of run reads as profit-taking rather than fresh selling, since the structural buyers in privacy tokens have been adding through the rally, not distributing into it.
Article preview — originally published by CoinDesk. Full story at the source.
Read full story on CoinDesk →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from CoinDesk alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop