Privacy tokens returned the highest share of the gains that the crypto markets had held on to.
Zcash (ZEC) fell 5.2% in 24 hours to $619, the biggest pullback among the top 20 by market capitalization, although the token is still up 8.2% over the past seven days, as of CoinDesk data. Monero (XMR) fell 4% to $378.
Both have been among the strongest performers across crypto over the past several weeks, with ZEC attracting institutional attention following Multicoin Capital’s share disclosure earlier this month and the broader narrative surrounding privacy tokens.
A 5% drop after that kind of run can be read as profit-making rather than fresh selling, as the structural buyers in privacy tokens have been adding through the rally, not dividing it.
Hyperliquid’s HYPE token traded above Dogecoin’s market cap in Asian hours before retreating, with HYPE down 4% to $59 and from 0.8% to $0.1009. HYPE is still up 23.6% over the past seven days on the back of last week’s SpaceX pre-IPO perpetual launch on Hyperliquid.
Tron (TRX) was the only gainer among the top 10, up 2.6% to $0.3739 and 4.8% over the past seven days. Bitcoin held close to $76,500, ether sat at $2,087, and Solana traded at $83.97, all in tight ranges with no major moves in either direction.
The macro backdrop drove the cautious tone. US Central Command confirmed strikes on missile launch sites in Iran and boats attempting to place mines in the Strait of Hormuz, describing the action as defensive.
Brent crude rose nearly 2% to $98 a barrel. barrel, rebounding from Monday’s 7% drop when London and New York were closed for public holidays. The dollar strengthened against all G-10 peers, gold retreated 0.6% to $4,545 and S&P 500 futures were up 0.6% after Monday’s US market close.
