Privacy coins are being led by ZEC this round, then $DASH follows—what comes next? Will ZEN in the same sector be the next one?
First, looking at $DASH 's whale holding chart: 508 people are in profit, with an average entry price of 52.97, unrealized gains of 2.06 million, and 97% of them profitable. 279 people are losing money, with an average entry price of 53.08, and unrealized losses of 930k. The profitable group has an average price $0.11 lower, and their positions are more than twice as large as the losing group’s, so the main force is eating very well.
But there’s one detail worth noting: DASH’s RSI on the 4-hour chart has reached 94, and 92 on the daily chart, which is seriously overbought. Open interest has hit 1.22M, a historical high. The funding rate is a positive 0.01%. The long/short ratio is 1.99, and the open interest ratio is 1.75. Bulls are in the lead, but it hasn’t reached a crazy level yet.
Looking at $ZEN , it is also in the privacy payments track, but its market cap is quite a bit smaller than DASH, and this round’s rise has been relatively mild. If funds in ZEC and DASH continue sweeping along the privacy sector, the probability of ZEN getting rotated into is not low. Also, the overall valuation of the privacy sector is rising: Grayscale’s Zcash ETF has broken $400 million, and Zcash’s PoW-to-PoS upgrade is still moving forward, so this trend is not over yet.
But ZEN’s hidden risks also need to be made clear. Futures trading volume is 5 times that of spot, and open interest accounts for 27% of market cap, so leverage is stacked pretty high. Once sentiment fades, the sell-off could be even more violent than DASH.
In terms of action, if ZEN can pull back to the area near daily support and stabilize, that level still offers a decent risk-reward. But chasing the price higher is unnecessary—privacy coins have already run a lot this round, so if you want to enter, waiting for a pullback is safer.
Do you think ZEN will see a catch-up rally? Let’s talk in the comments. #DASH #ZEN
True bridge-free trading has arrived The competition facing public chains has been redefined
When cross-chain is compressed into a single click, the standard traders use to choose a public chain changes accordingly. “The best market conditions” usually means the strongest wealth effect, the most concentrated liquidity, and the most intense social discussion. The Fomo and Pump.fun app put these three signals into the same information flow, allowing capital to quickly pour into the hottest chain and leave just as quickly once the heat shifts.
The early activity on Robinhood Chain has already revealed this capital structure. On-chain activity statistics from Blockworks Research show that Robinhood Wallet contributed only 2% of activity, while 86% came from cross-chain terminals and multi-chain wallets. The main force supporting the market is still crypto-native capital, which migrates to new venues through existing entry points such as Fomo. New funds brought in by the main Robinhood app have not yet become the core.
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