Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ADA 
HYPE 
LINK 
XMR 
ZEC Reshaping the rankings of the top ten non-stablecoins: The rise of privacy coins and emerging assets, and established projects take a back seat
Among the top ten largest cryptocurrencies that do not include stablecoins, the pattern is evolving. Zcash, Monero and Hyperliquid are now in the top ten, while Cardano and Chainlink are slipping. The reshuffle reflects a flow of funds to more volatile assets as several major cryptocurrencies are going through a difficult period.
Summary of Core Points
Newcomers: Zcash (price of $1,227, market cap of US$20.8 billion), Hyperliquid (price of $85, market cap of US$19 billion) and Monero (price of $534, market cap of US$10.1 billion) are among the top ten unstable coins.
Quitters: Cardano (price $0.25, market cap $9.3 billion) and Chainlink (price $12.9, market cap $9.9 billion) separated from the group.
Annual performance comparison: Over the past year, Zcash has gained approximately 418%, Hyperliquid has gained 131%, and Monero has gained 79%. At the same time, Cardano fell 61% and Chainlink fell 25%.
Three in and two out: Progressive restructuring of the market level
This ranking reshuffle is gradually formed. Back in late September, we mentioned the $24.5 billion valuation increase Zcash and Monero had achieved in just five months. Since then, their progress has played a key role in changing market hierarchies.
According to data, Zcash's market value reaches US$20.8 billion, ahead of Hyperliquid with a market value of US$19 billion and Monero with a market value of US$10.1 billion. In contrast, Cardano's market value is currently only $9.3 billion, and Chainlink's market value is $9.9 billion. These two cryptocurrencies rank 15th and 17th respectively in the overall rankings (including stablecoins).
Performance over the past twelve months better illustrates the contrast: Zcash is up about 418%, Hyperliquid is 131%, and Monero is 79%. Cardano and Chainlink showed opposite trends, with declines of 61% and 25%, respectively.
Privacy-focused cryptocurrency regained momentum
Zcash broke the $1,000 mark again in September for the first time since 2018. Subsequently, its price hit $1,653 on September 27, and then fell back by about 25%. Despite the pullback, Zcash has gained more than 500% since its March 8 low ($197).
However, this surge raises many questions. During October, hackers used Zcash to cover their whereabouts in the Bitget hacking incident. Such uses could exacerbate regulators 'concerns. In addition, speculative sentiment remains high: on October 11, the open interest in perpetual contracts reached US$3.58 billion, accounting for about 17% of Zcash's market value.
Monero has also benefited from the market's attention to privacy features. Although its growth is not as dramatic as Zcash, its 79% annual increase puts its market value slightly ahead of Chainlink.
Hyperliquid benefits from market rotation
Hyperliquid follows another trajectory. The platform, which focuses on decentralized perpetual contracts, saw its tokens rise by 131% in a year, bringing its market value to nearly $19 billion. This performance confirms that new players have become among the largest cryptocurrencies, as does NEAR's inclusion in the top 20 with a valuation of US$7.2 billion.
At the same time, several market giants are retreating. In the past twelve months, Bitcoin has fallen about 25%, Ethereum has fallen 33%, BNB has fallen 34%, Solana has fallen 38%, and XRP has fallen nearly 42%. This weakness is conducive to a reshuffle of rankings, but it does not guarantee that the rotation of risk-loving assets will continue.
The gap is small and the ranking can change at any time
Currently, the gap between several cryptocurrencies is still very close. The difference in market capitalization of Monero, Cardano and Chainlink is less than a billion dollars. Therefore, ups and downs in just a few trading sessions are enough to change the rankings again.
