Hyperliquid and Zcash Challenge Crypto's 'Mount Rushmore'

Bitwise Chief Investment Officer Matt Hougan says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Chainlink (LINK) are still the top contenders in the crypto market, his 'crypto Mount Rushmore.'

However, he notes that Hyperliquid and Zcash are challenging this lineup by offering unique features and benefits. Hougan praises Hyperliquid for combining multiple advances in the crypto space with a strong user experience, while Zcash is making a case for joining the group by focusing on privacy.

Zcash (ZEC) has seen significant growth in recent months, gaining about 70% in August and overtaking Hyperliquid to become the ninth-largest cryptocurrency. Both tokens have had strong rallies recently, with HYPE's price up over 5% and ZEC's price also up over 5% over the past 24 hours.

Hougan believes that if you want a broad play on monetary debasement, Bitcoin is still the leader. He remains bullish on several decentralized finance (DeFi) assets and points to Venus as an AI-linked contender.