Zcash-Hyperliquid crypto battle: $560M market-cap gap, Zcash leads volume

About $560 million separates ninth from tenth place in the crypto battle between Zcash (ZEC) and Hyperliquid (HYPE). Market figures for October 20, 2026 put Hyperliquid ahead by capitalization, but Zcash has higher trading volume and a smaller weekly loss as both assets retreat from their September peaks.

Key takeaways

• Hyperliquid ranks ninth at $19.78 billion; Zcash ranks tenth at $19.22 billion.
• ZEC’s weekly decline is smaller than HYPE’s, while its trading volume is higher.
• HYPE is testing support near $77; ZEC faces resistance around $1,180.

Zcash and Hyperliquid battle for crypto’s top 10

Hyperliquid holds ninth place with a $19.78 billion market capitalization, ahead of Zcash’s $19.22 billion. HYPE trades at $77.90 after losing 5.16% over the past week, while ZEC stands at $1,135.89 following a 4.50% decline.

Both assets underperformed Bitcoin, which fell 2.23% over the same period. Against Ethereum’s 4.66% decline, however, both held up better.

Trading volume favors Zcash

Zcash records $715.21 million in trading volume, exceeding Hyperliquid’s $541.44 million. That higher activity indicates stronger trading interest in the privacy coin, even as its market capitalization remains below HYPE’s.

The crypto ranking battle therefore presents a split picture: Hyperliquid leads Zcash by market value, but trails it on trading volume and weekly price performance.

Technical levels separate the two recovery paths

Hyperliquid is already testing its 100-day moving average, while Zcash trades above its corresponding support line. Both rallied strongly before peaking in late September and then pulling back.

Hyperliquid tests support near $77

HYPE’s 100-day moving average near $77 has provided support before. After peaking around $98 in late September, the token has slid back to that line; a break below it would bring the 200-day average near $67 into focus.

Its relative strength index, or RSI, is near 40, indicating weak momentum without an oversold reading. The technical recovery zone sits at $82 to $83; a move above $82 could extend Hyperliquid’s capitalization lead.

Zcash faces resistance near $1,180

ZEC trades beneath its 50-day moving average near $1,180, now a resistance level. A push above $1,200 could reverse the ranking and move Zcash ahead of Hyperliquid.

This decline comes after the price surged over 200%, rising from roughly $500 in August to nearly $1,700 by September. ZEC subsequently fell to around $1,050 before a modest rebound.

Its main support lies at the 100-day average near $1,000, with the 200-day average farther below at approximately $790. Zcash’s RSI is around 45, a neutral reading.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.