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Privacy tokens fall as US strikes Iran, HYPE briefly tops Dogecoin market cap

Market News
26 May 2026
Coindesk
View Source
Neutral
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Privacy-focused cryptocurrencies Zcash and Monero dropped 5.2% and 4% respectively amid renewed Middle East tensions following US strikes on Iran. The pullback is seen as profit-taking after recent gains driven by institutional interest in privacy tokens. Meanwhile, Hyperliquid's HYPE token briefly surpassed Dogecoin's market cap before pulling back, buoyed by a recent SpaceX pre-IPO launch. Broader crypto markets remained cautious with Bitcoin near $76,500, as geopolitical events lifted oil prices and the US dollar, influencing market sentiment.

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