Friday's session is characterized by a blend of caution and curiosity as traders adjust their leverage and anticipate weekend trends. Bitcoin is currently trading just above $100,900. XRP's chart displays a tightening pattern near $2.19, with repeated rejections of the $2.40-$2.60 range since mid-October.
Meanwhile, Dogecoin is holding strong at around $0.164 following recent news involving Elon Musk. Zcash is experiencing a significant surge, up over 17% in a single day to $627, marked by a near-vertical recovery and seven consecutive green sessions. These diverse market movements indicate a week where outliers are playing a more significant role than traditional benchmarks, highlighting a clear rotation trend across major cryptocurrency pairs.
Key Market Highlights
- •Zcash (ZEC) is trading significantly below XRP's market cap, with the community anticipating a potential "flippening."
- •Tether has increased its Bitcoin holdings by 961 BTC, valued at approximately $97 million, bringing its total reserves to $8.8 billion.
- •Elon Musk has secured a record $1 trillion Tesla compensation plan, leading to a notable spike in Dogecoin (DOGE) mentions.
Zcash's Remarkable Ascent
According to data from CompareMarketCap, Zcash's hypothetical parity price stands at $8,143.37 per ZEC. This figure represents approximately 12.96 times its current price of $627, assuming its market cap of $10.27 billion were to match XRP's current market cap of $133.3 billion, with XRP trading around $2.19 per token.
This ratio has become a significant reference point for advocates of privacy coins, who argue that established payment assets like XRP are overvalued in comparison to protocols offering on-chain confidentiality.
Zcash's comeback in 2025 is evident. CoinMarketCap now ranks ZEC 13th overall, following a 17% daily surge to $627 and a 72% weekly increase. This performance surpasses most major assets, with the exception of a few select DeFi outliers. Since September, ZEC has seen a rise of over 700%, and year-to-date, its gains are an impressive 1,236%.
Galaxy Research attributes Zcash's surge to a resurgence in privacy trends, as indicated by Google search data and a16z's 2025 State of Crypto report. Both sources track increasing interest in "anonymous crypto" and "zero-knowledge wallets."
Launched in 2016 as a fork of Bitcoin, Zcash has recently re-entered the derivatives markets with the addition of ZEC perpetuals on Hyperliquid and Bybit, which has facilitated leveraged exposure to the asset.
Further momentum was fueled by Helius founder Mert's viral claim that 10% of Bitcoin's market cap is a "reasonable lower-bound target" for Zcash, asserting that ZEC's ecosystem and utility are comparable to those of XRP and BNB.
As of press time, ZEC is trading at $627.13, while XRP is holding at $2.19, down approximately 11% over the past week and testing the $2.00 support area.
Tether Continues Bitcoin Accumulation
Fresh data from Arkham Intelligence reveals that Tether, the issuer of the leading stablecoin USDT, has acquired an additional 961 BTC, valued at approximately $97.34 million. This purchase brings Tether's total Bitcoin holdings to 87,296 BTC. At the current market price of nearly $100,900 per BTC, this holdings are now worth $8.8 billion.
The wallet identified as bc1qj remains the largest corporate Bitcoin treasury outside of Tesla and Strategy.
This acquisition occurred as Bitcoin slid to $100,941, an 8% decrease for the week. Despite ETF outflows and cooling funding rates, Tether's accumulation pattern persists. Tether has committed to allocating 15% of its net profits to purchasing BTC, which it views as a hedge against exposure to the Treasury market.
Tether's actions continue to serve as a market indicator for liquidity expectations. USDT's substantial float of $183 billion and a 24-hour volume of $139 billion anchor most on-chain settlements.
By adding Bitcoin at these price levels, Tether reinforces the notion that, even below $101,000, institutional balance sheets still consider Bitcoin to be prime reserve collateral.
Elon Musk's Tesla Deal and Dogecoin's Reaction
Tesla shareholders have approved a record-setting $1 trillion compensation package for Elon Musk, contingent upon him increasing the company's market cap from $1 trillion to $8.5 trillion within 10 years. The plan received support from over 75% of the votes, solidifying the largest executive reward in U.S. corporate history. This package is directly linked to the company's targets for robotaxi and autonomous transport deployment.
The prominent $BTC maximalist has drawn parallels between $ZEC and $DOGE https://t.co/hu6zBqKWfP
— U.Today (@Utoday_en) November 7, 2025
Earlier this Wednesday, Musk revived his characteristic crypto remark: "Time to send Dogecoin to the moon." DOGE responded with a 1.7% increase to $0.1645, reclaiming a $25 billion market cap and maintaining its ninth-place ranking.
However, the meme coin has experienced a decline of approximately 10% over the past seven days. Despite this, it continues to mirror Tesla's media cycle, as well as Musk's activity on X and updates from SpaceX.
The connection between Tesla's valuation narrative and Dogecoin's social momentum remains robust. Whenever shareholders endorse Musk's long-term vision, DOGE experiences a brief recovery in market share within retail flows.