{"id":77833,"date":"2026-09-07T12:30:45","date_gmt":"2026-09-07T12:30:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/zcash-xrp-and-solana-bets-push-altcoin-leverage-past-bitcoin\/"},"modified":"2026-09-07T12:30:45","modified_gmt":"2026-09-07T12:30:45","slug":"zcash-xrp-and-solana-bets-push-altcoin-leverage-past-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/zcash-xrp-and-solana-bets-push-altcoin-leverage-past-bitcoin\/","title":{"rendered":"Zcash, XRP and Solana Bets Push Altcoin Leverage Past Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Data shows altcoin perp open interest passed bitcoin\u2019s on Sept. 6, the first flip since Dec. 2024.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Altcoins outside the top 10 top $200B, up 10% in September, and ZEC open interest hit a record $2.4B.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The fear and greed index reads 71 and bitcoin\u2019s dominance is 59%, leaving the flip fragile if funding turns.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>What Metric Flipped Actually?<\/h2>\n<p>Aggregate open interest, the dollar value of futures contracts still open, in altcoin perpetuals <a href=\"https:\/\/x.com\/WuBlockchain\/status\/2096772445403500941\" target=\"_blank\" rel=\"noopener noreferrer\">surpassed the same figure for bitcoin yesterday<\/a>. The last time the altcoin line sat above the bitcoin line was December 2024.<\/p>\n<p>The numbers are there to back the switch-up, as the total market cap of altcoins outside the top 10 has risen above $200 billion, up more than 10% since the start of September. Total crypto market cap is about $2.70 trillion, with bitcoin at 59.2% of it and ether at 11.3%.<\/p>\n<p>Open interest measures positioning, not conviction, such that when altcoin open interest outruns bitcoin\u2019s, traders are using leverage to chase smaller, thinner markets, which move faster in both directions.<\/p>\n<p>Moreover, the crypto fear and greed Index reads 71, \u201cgreed,\u201d down two points from a day earlier. Lastly, BTC is trading near $79,500, having <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-price-faces-82k-wall-as-weekend-momentum-fizzles\/\">stalled under<\/a> an $80,000 to $82,000 resistance band after a Sept. 3 high of $82,239.<\/p>\n<h2>Where Is the Leverage?<\/h2>\n<p>The answer is Zcash. To elaborate, open interest in ZEC reached a record $2.4 billion in early September and roughly $34 million of shorts were liquidated when the price crossed $1,000 on Sept. 4. ZEC now trades near $1,200, up 134% in 30 days, with a market cap of $20 billion.<\/p>\n<p>The casualties have names and the largest ZEC short on Hyperliquid, ala proinent trader Garrett Jin, is <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/zcashs-1200-push-sustains-sending-garrett-jins-short-25-7m-underwater\/\">$25.7 million underwater<\/a> from a $444 entry. A second trader who had won 26 trades in a row is down $5.27 million on an $18.95 million short and <a href=\"https:\/\/x.com\/lookonchain\/status\/2096763498701492527\" target=\"_blank\" rel=\"noopener noreferrer\">faces liquidation at $1,317<\/a>.<\/p>\n<h2>What Happened Last Time?<\/h2>\n<p>In December 2024, the crossover was followed by sharp corrections in several mid-cap tokens while bitcoin itself held relatively steady. The pattern makes sense mechanically given altcoin perps sit on thin order books, so they liquidate in cascades. When a crowded long unwinds, the forced selling hits spot markets that cannot absorb it, which is why altcoin drawdowns run deeper than bitcoin\u2019s in the same week.<\/p>\n<p>A recent Bitcoin.com News <a href=\"https:\/\/news.bitcoin.com\/learning-insights\/crypto-liquidation-cascades-explained\/\">explainer on liquidation cascades<\/a> walked through one episode where $19 billion vanished exactly that way. That said, three things could break the cycle, namely:<\/p>\n<ul>\n<li>A funding-rate spike that makes carrying longs expensive<\/li>\n<li>A move in bitcoin\u2019s price in either direction big enough to force cross-margined accounts to de-risk their altcoin legs<\/li>\n<li>The continued absence of retail<\/li>\n<\/ul>\n<p>Furthermore, a report <a href=\"https:\/\/news.bitcoin.com\/altcoins\/altcoins-rip-higher-but-one-brutal-metric-kills-the-altseason-hype\/\">noted late last month<\/a> that Google search interest in \u201caltcoin\u201d sat at 26 out of 100 and the Altcoin Season Index read 43, well short of the 75 that defines an altseason.<\/p>\n<div class=\"not-prose my-3 lg:my-4\"><a aria-label=\"Read Now: Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 flex flex-col md:hidden\" href=\"https:\/\/news.bitcoin.com\/zcashs-1200-push-sustains-sending-garrett-jins-short-25-7m-underwater\/\"><\/p>\n<div class=\"relative aspect-video w-full overflow-hidden rounded-[15px]\"><\/p>\n<h3 class=\"absolute inset-x-0 bottom-0 m-0 p-3 text-xl font-bold capitalize leading-[1.17] tracking-[-0.4px] !text-white\">Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater<\/h3>\n<\/div>\n<div class=\"flex flex-col gap-2.5 px-1 pt-2.5 pb-1\">\n<p class=\"m-0 line-clamp-2 text-xs leading-[1.3] !text-[#67656E]\">ZEC has pushed past $1,200, and its largest short seller on Hyperliquid, Garrett Jin, is sitting on a $25.7 million\u2026<\/p>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-[38px] w-full\">Read Now<\/span><\/div>\n<p><\/a><a aria-label=\"Read Now: Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 hidden md:flex md:flex-row md:gap-3 lg:hidden\" href=\"https:\/\/news.bitcoin.com\/zcashs-1200-push-sustains-sending-garrett-jins-short-25-7m-underwater\/\"><\/p>\n<div class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\"><img alt=\"Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<\/div>\n<div class=\"flex min-w-0 flex-1 flex-col justify-between gap-2\">\n<h3 class=\"m-0 line-clamp-3 text-xl font-bold capitalize leading-[1.17] tracking-[-0.4px] !text-[#1C1C1C]\">Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater<\/h3>\n<p class=\"m-0 line-clamp-2 text-sm leading-[1.3] !text-[#67656E]\">ZEC has pushed past $1,200, and its largest short seller on Hyperliquid, Garrett Jin, is sitting on a $25.7 million\u2026<\/p>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-[38px] w-full\">Read Now<\/span><\/div>\n<p><\/a><a aria-label=\"Read Now: Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 hidden lg:flex lg:flex-row lg:gap-4\" href=\"https:\/\/news.bitcoin.com\/zcashs-1200-push-sustains-sending-garrett-jins-short-25-7m-underwater\/\"><\/p>\n<div class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\"><img alt=\"Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fzcashs-1200-push-sustains-sending-garrett-jis-short-25-7m-underwater2_nwmk-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<\/div>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p><h3 class=\"m-0 min-w-0 flex-1 line-clamp-2 text-2xl font-bold capitalize leading-[1.17] tracking-[-0.48px] !text-[#1C1C1C]\">Zcash\u2019s $1,200 Push Sustains, Sending Garrett Jin\u2019s Short $25.7M Underwater<\/h3>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-12 w-[180px] shrink-0\">Read Now<\/span><\/p>\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">ZEC has pushed past $1,200, and its largest short seller on Hyperliquid, Garrett Jin, is sitting on a $25.7 million\u2026<\/p>\n<\/div>\n<p><\/a><\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/altcoins\/altcoin-open-interest-flips-bitcoin-first-time-since-2024\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Data shows altcoin perp open interest passed bitcoin\u2019s on Sept. 6, the first flip since Dec. 2024. Altcoins outside the top 10 top $200B, up 10% in September, and ZEC open interest hit a record $2.4B. The fear and greed index reads 71 and bitcoin\u2019s dominance [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":77834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77833"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=77833"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/77834"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=77833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=77833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=77833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}