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▲ Zcash (ZEC), Hyperliquid (HYPE)/AI Generated Image
Zcash (ZEC) has narrowed the market capitalization gap with Hyperliquid (HYPE) to $570 million, putting it on the verge of securing the 9th spot in cryptocurrency market cap rankings.
According to U.Today on September 15 (local time), Hyperliquid's market cap was recorded at $19.87 billion, while Zcash's was approximately $19.3 billion. The difference between the two assets is about $570 million, which is less than 3% of Hyperliquid's market cap. Analysis suggests that if Hyperliquid's market cap remains at the same level, Zcash could overturn its market cap ranking when it reaches $1,178-$1,180.
The recent trends of both assets have also contributed to the narrowing gap. Zcash has risen approximately 1.15% in the last 7 days, while HYPE has fallen by over 6%. Zcash started at around $500 in August, successively surpassed $600, $800, and $1,000, and then surged to $1,280. After a sharp rise, it experienced several corrections but maintained the $1,000 level.
The technical trend also maintains a bullish structure. Zcash is trading significantly above its major moving averages, and the Relative Strength Index (RSI) has moved down from the overbought zone and settled in the late 50s. U.Today analyzed that some of the excessive upward momentum has been resolved. In the short term, $1,160-$1,200 has been presented as the most important resistance zone.
If it breaks above $1,200, the recent highs of $1,240-$1,280 will be tested again. If Hyperliquid's market cap does not change significantly, Zcash has the potential to climb to the 9th spot in market cap during the process of breaking through this resistance zone. Conversely, if the support zone of $1,050-$1,080 breaks, it could correct down to the psychological support level of $1,000.
U.Today noted that while Zcash carries the risk of correction after a significant rise, the market cap gap with Hyperliquid has narrowed to less than 3%. Analysis suggests that with just about 3% additional rise in market cap, Zcash could overtake HYPE and secure the 9th position in the cryptocurrency market.
[Key Article Summary]
-Zcash's market cap is approximately $19.3 billion, trailing Hyperliquid's $19.87 billion by about $570 million.
-Analysis suggests that if Hyperliquid's market cap is maintained, Zcash could reverse the market cap ranking at $1,178-$1,180.
-Zcash could surpass HYPE and reach the 9th position in cryptocurrency market cap with an additional rise of approximately 3%.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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