Zcash and NEAR Market Caps Increase as Bitcoin, Ether Remain Larger

Zcash (ZEC) and NEAR Protocol (NEAR) increased their market capitalizations between early September and Sept. 23, while Bitcoin (BTC) and Ether (ETH) remained larger assets by market capitalization on that date.

ZEC reached $27.60 billion in market capitalization on Sept. 23 UTC, up from $13.78 billion on Sept. 3. Its reported market-data volume was $1.69 billion.

NEAR reached $5.77 billion on Sept. 23 UTC, compared with $2.55 billion on Sept. 4. Its reported market-data volume was $1.75 billion.

BTC had a $1.73 trillion market capitalization and $43.50 billion in reported market-data volume on Sept. 23 UTC. ETH had a $336.01 billion market capitalization and $16.46 billion in volume.

The market-capitalization figures do not establish that funds moved from BTC or ETH into ZEC or NEAR. The volume figures are reported market-data totals and do not establish spot-market flows.

DCG International Investments Ltd. acquired approximately $100 million of shares in the Zcash ETF on Sept. 8 in exchange for 85,705.32563297 ZEC. The transaction documents institutional exposure to ZEC but does not establish that the purchase used BTC or ETH holdings or caused the broader ZEC increase.

Earlier coverage of Zcash’s U.S. market exposure included the asset’s treasury and exchange-traded fund presence.

NEAR ecosystem metrics included $131 million in confidential total value locked in NEAR Intents and approximately $5.98 million in gross fees over the displayed 30-day period as of Sept. 23. Those figures show activity in the NEAR ecosystem but do not establish that NEAR displaced investment tied to Ethereum.