Crypto
Zcash Leads Rare Group of Altcoins Outperforming Bitcoin
Zcash is far ahead of a small group of altcoins outperforming Bitcoin, with Glassnode data showing ZEC has gained 14x against BTC since its all-time high.
BLOCKINSIDERLoadingZcash is far ahead of a small group of altcoins outperforming Bitcoin, with Glassnode data showing ZEC has gained 14x against BTC since its all-time high.
Altcoins are showing uneven performance against Bitcoin, with Zcash leading the pack by gaining 14 times Bitcoin's return from its record high, according to Glassnode data cited on September 24, 2026.
Only nine of the 50 largest altcoins have outperformed Bitcoin over the period, while the remaining are still behind the leading cryptocurrency.
Hyperliquid's HYPE crypto, Monero and NEAR Protocol were also among the other notable outperformers, posting gains of about two to three times Bitcoin's performance.
The figures put the recent altcoin strength into sharper perspective. Gains across digital assets can mask the fact that performance has been concentrated.
As per Glassnode data, just nine assets from the top 50 have delivered a stronger relative return than Bitcoin since BTC reached its record high.
Zcash is far ahead of the rest. Its relative gain is 14 times that of Bitcoin over the measured period. The size of that gap sets Zcash apart from the small group of tokens that managed to beat Bitcoin at all.
For altcoins outside that group, the data points in the opposite direction. Forty-one of the top 50 did not outperform Bitcoin over the same timeframe.
This makes the current market less about a uniform shift away from BTC and more about a limited number of assets extending their gains faster than the market leader.
A rise in the broader crypto market does not necessarily mean most altcoins are outperforming Bitcoin. Relative performance is a different measure, and the latest Glassnode data highlights that gap.
Zcash leads the comparison by a wide margin. The privacy-focused cryptocurrency recorded a relative return 14 times that of Bitcoin as per the data published by Glassnode. HYPE, Monero and NEAR followed at about two to three times Bitcoin's performance.
The spread between first place and the rest is notable. Zcash's result is several multiples of the gains recorded by the next group of outperformers.
Hype crypto, referring here to Hyperliquid's HYPE token, is therefore part of a much smaller set rather than evidence that the entire altcoin complex has moved together.
The same pattern appears in Monero and NEAR. Both have produced returns that exceed Bitcoin's over the period, but their relative gains remain well below Zcash's 14-times figure. Glassnode's comparison therefore shows a market where leadership exists, but it is concentrated.
A September 24 Block Insider report cited Glassnode's Altcoin Cycle Signal at 81.25 and noted that only 51% of the top 50 altcoins were outperforming Bitcoin price under its stated measurement, below the 75% level commonly used to define an altcoin season. Bitcoin dominance was reported near the 58% to 60% range.
Those figures are not necessarily inconsistent with the new Zcash comparison because the measurements and timeframes differ.
The current Glassnode data focuses on performance since Bitcoin's all-time high, while the altseason discussion looks at a shorter period and a broader market signal.
Bitcoin's recent price action also remains central to that debate. Block Insider reported Bitcoin at about $84,195, with $83,796 identified as a key support level and $86,222 as a resistance point.
The report followed stronger U.S. economic data that pushed Treasury yields higher and weighed on risk assets.
That backdrop helps explain why the latest altcoin figures deserve a narrower reading. The market can produce strong individual winners without producing uniform outperformance across the top 50.
For altcoins, however, the latest Glassnode data leaves a more specific message: Bitcoin remains the benchmark, and only a small minority of major tokens have managed to beat it since its record high.
Zcash sits well ahead of that group, while HYPE, Monero and NEAR make up part of a much narrower second tier.
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