Hougan Sees Hyperliquid and Zcash Challenging Crypto's 'Mount Rushmore'

Bitwise Chief Investment Officer Matt Hougan said that Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Chainlink (LINK) remain his go-to cryptocurrencies, which he referred to as crypto's 'Mount Rushmore.'

Hougan added that Hyperliquid (HYPE) is making a strong case to join this exclusive group by combining several existing crypto-market features with a user-friendly experience. He noted that Zcash (ZEC) is also challenging the established lineup, arguing that privacy deserves a larger role in the market.

The Bitwise CIO emphasized that while his original basket has not changed, Hyperliquid and Zcash are bringing new perspectives to the table. Hougan pointed out that Bitcoin remains the leader for exposure to monetary debasement themes.

Hyperliquid's price was up over 5% over the past 24 hours, and its user sentiment shifted from 'extremely bearish' to 'bearish.' Zcash's price also rose by more than 5%, with its retail sentiment remaining in the 'neutral' zone on Stocktwits.

Coinbase announced that users can now borrow up to $100,000 against HYPE and ZEC instead of selling them. This move allows holders to access liquidity without giving up exposure to either asset.