The cryptocurrency market is showing mixed signals this week. Hyperliquid (HYPE) has been losing momentum after reaching a new high in June, with short-term technical indicators pointing to selling pressure. Zcash (ZEC) has fared worse, declining approximately 20% over two weeks and resting on a support level that may be vulnerable. Meanwhile, BlockDAG (BDAG) has announced a partnership with RedotPay that integrates its token into real-world payment infrastructure, with the project's Aftersale remaining open at $0.000000017 against $0.025 Buybacks.

Hyperliquid Retreats After June Peak

The Hyperliquid price is trading near $53 after reaching a high of $76.70 on June 16. While the token retains a strong year-to-date performance, the pullback has pushed daily and short-term moving averages into sell-signal territory. The Fear & Greed Index currently sits at 25, reflecting extreme fear among market participants.

Hyperliquid operates as a fully on-chain perpetual futures exchange built on its own Layer 1 blockchain, placing it among the decentralized trading platforms that have captured meaningful volume from centralized exchanges over the past year. That structural position adds relevance to its current pullback, as traders watch whether on-chain order book infrastructure can sustain activity through a risk-off phase.

Arthur Hayes has publicly set a price target of $150 by August, arguing that HYPE benefits from structural support because 97% of protocol fees are directed into token buybacks. This buyback mechanism does provide a degree of price support during periods of low trading activity.

On the technical side, the RSI stands at 37, the MACD is leaning bearish, and the Bollinger lower band sits at approximately $52 — all levels traders are monitoring. The Hyperliquid price would need to reclaim $59 to signal a return of upward momentum.

Zcash Declines as Shielded Supply Falls to 10-Month Low

The Zcash price dropped more than 2% on Friday, trading around $471. The token is currently below its 50-day EMA of $485 and is testing a rising support line near $458. A break below that level could expose the 200-day EMA at $404.

Beyond price action, shielded ZEC supply — the measure of tokens held within Zcash's privacy pools — has declined to a 10-month low of 3.79 million, indicating reduced usage of the network's privacy features rather than just soft pricing. The drop in shielded participation comes amid a broader contraction across privacy-focused cryptocurrencies, several of which have faced exchange delistings and heightened regulatory scrutiny over the past two years. Whether reduced shielded activity reflects user preference, compliance friction, or migration to alternative privacy tools remains an open question for the sector.

Technical indicators for Zcash paint a similar picture: the MACD is trending negative following a bearish crossover, and the RSI is at 42. The token faces pressure from both declining adoption and weakening chart structure simultaneously.

BlockDAG Announces RedotPay Partnership

BlockDAG has entered into a partnership with RedotPay, a move designed to integrate BDAG into payment cards, global transfers, and everyday spending. The announcement arrives while the project's Aftersale remains open at $0.000000017 against $0.025 Buybacks, with batches closing as allocations are filled.

BlockDAG has been expanding its ecosystem across several fronts. Over 4 million users are reportedly running the X1 mobile mining application. The project's physical X-series miners are shipping globally, and the BDAG Casino has been operational for several months, providing the token with an on-chain use case beyond trading. The addition of RedotPay integration positions BlockDAG's Super App as a combined platform for earning, holding, and spending.

Additionally, BlockDAG's native exchange is reportedly preparing to launch. A proprietary trading venue would allow the project to set its own fee structure and route revenue back into the token through buybacks and ecosystem rewards — an approach comparable to the model Hyperliquid has used, but with an added payments layer. The parallel is worth noting: if a native exchange successfully generates fee revenue directed into buybacks, it would create a feedback loop similar to the one Arthur Hayes cited as bullish for HYPE, though execution risk remains for any early-stage project.

Summary

Hyperliquid retains a buyback-supported structure but faces near-term technical headwinds, with sellers in control at current levels. Zcash is under pressure from both declining shielded supply and weakening price support. BlockDAG, by contrast, has announced a payments partnership with RedotPay and is preparing to launch a native exchange, while its Aftersale continues at $0.000000017 against $0.025 Buybacks.

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