Privacy Tokens ZEC, XMR Drop 5% as Crypto Markets Pull Back
Privacy tokens Zcash (ZEC) and Monero (XMR) fell 5.2% and 4% respectively over 24 hours, leading losses among major cryptocurrencies. ZEC dropped to $619 and XMR to $378, though both remain up over the past week. The decline is attributed to profit-taking after strong recent gains, with ZEC drawing institutional attention from Multicoin Capital's stake disclosure. Hyperliquid's HYPE token briefly surpassed Dogecoin's market cap before falling 4% to $59, while Tron (TRX) rose 2.6% to $0.3739 as the only top-10 gainer. Bitcoin held near $76,500, ether at $2,087, and Solana at $83.97. The broader market pullback coincided with renewed Middle East tensions, including US strikes in Iran, a rise in Brent crude to $98/barrel, and a stronger dollar.
Key facts
- ZEC dropped 5.2% to $619, XMR fell 4% to $378 in 24 hours.
- HYPE briefly surpassed DOGE market cap, then fell 4% to $59.
- TRX rose 2.6% to $0.3739 as the only top-10 gainer.
- Bitcoin held near $76,500; ether at $2,087; Solana at $83.97.
- Macro headwinds: US strikes in Iran, oil at $98, dollar strengthens.