# Hyperliquid’s HYPE Token Tops Zcash With a $22 Billion Market Cap By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/44397 Published: 2026-10-30T08:08:02.000Z Updated: 2026-10-30T08:08:02.000Z Section: Investing > Zcash (ZEC) stood at $21.4 billion, leaving the two tokens $600 million apart. Hyperliquid (HYPE) had a $22 billion market capitalization Friday, Oct. 30, putting its token $600 million ahead of Zcash (ZEC), whose token market capitalization stood at $21.4 billion. The comparison is between the tokens’ market capitalizations, not valuations of the platforms. Hyperliquid is a decentralized perpetual-futures trading platform. Both tokens have recently appeared among the 10 largest cryptocurrencies on rankings that exclude stablecoins. An [Oct. 25 market snapshot]() put HYPE at $16.99 billion in market capitalization and 11th overall. ## Links in this article - [Oct. 25 market snapshot](https://www.tokenpost.com/news/investing/40548)