F2Pool Co-founder Wang Chun: ZEC Rises Driven by Narrative, Fundamentals Lag Behind SOL and HYPE
On September 8, Wang Chun, co-founder of F2Pool, stated that the recent rise in Zcash (ZEC) is primarily due to "narrative-driven" factors, and its high market capitalization does not reflect the project's actual value. He believes that Zcash is not comparable to Solana (SOL) or Hyperliquid (HYPE). Wang Chun pointed out that Zcash was not fairly distributed at its launch, with 20% of the block rewards allocated as "founder's rewards" to founders, employees, advisors, and early investors over the first four years, totaling 2.1 million ZEC, which accounts for 10% of the total supply. After the founder's rewards ended, a similar 20% block reward distribution reappeared in the form of a "development fund." Wang Chun criticized Zcash for its long-term adoption of an "optional privacy" model, arguing that most ZEC has remained in public addresses, and highlighted governance disputes among organizations such as Electric Coin Company and Zcash Foundation. In January 2026, the entire ECC team left, which he sees as a reflection of flaws in Zcash's governance model. Additionally, Wang Chun mentioned the Orchard funding pool vulnerability disclosed by Zcash in May 2026, which existed for about four years and could have been exploited to generate untraceable ZEC. The Ironwood upgrade implemented in July closed the old funding pool and required tokens to pass through a new "gate," essentially a bug fix rather than a justification for ZEC to enter the top ten. Wang Chun concluded that unfair distribution, block reward sharing, governance disputes, and privacy pool vulnerabilities are insufficient to support Zcash as a "top ten network," describing it more as a "story coin," while Solana and Hyperliquid still possess real use cases.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Your Bitcoin trade can now get liquidated because a stock crashed

Dialogue with Fejau: The Next Round of the Bull Market for Digital Assets is Finally Here

In the 17th Year of the Crypto Era, Where is Solana's Path to Survival?

Pump.fun Analysis: Is It Severely Undervalued, and What Should Its Target Price Be?

Emphasis on Token Valuation Criteria, Usage, and Buyback Structure

Bitwise to close Dogecoin ETF after 10 months

Shorting HYPE Loses $40 Million, How Much Ammo Does Meme's Top Short Seller loracle Have Left?

21Shares Analyst Says BTC Finds Support Around $77,000, Targeting $100,000

ZEC Rises into the Top Ten, Old Controversies Resurface

173,794 Hyperliquid Trading Wallets, Maximum Inflow for HIP-3

Blockworks Analyst PUMP Valuation Range Between $0.0108 and $0.0205

trade.xyz Launches Events Market Covering Stocks, Commodities, and Pre-IPO Assets

Solana Breaks Records, But Its Daily Revenues Make the Difference

Coinbase Wallet Rebrands, Shifts Focus to Multichain Trading

Meet Kute, the New Bitcoin Wallet for Generation Z

Hyperliquid's Open Interest Reaches $14.669 Billion

Memecoin degens are providing the spark for Wall Street to turn stock tokens into real capital

Anonymous wallet purchases 116,427 Hyperliquid coins for €8.5 million

Canary Capital Launches First Spot TRX ETF with Staking in the U.S.

Hyperliquid OI Hits $14.3B as HYPE Reaches New Highs — What It Means for WEEX Traders
Hyperliquid is entering a new phase of growth. Open interest on the on-chain derivatives platform has climbed to $14.3 billion, HYPE has hit a new all-time high, and new financial products are beginning to build on top of its trading infrastructure. At the same time, regulatory attention is rising, with the CFTC exploring how platforms like Hyperliquid could fit within a compliant market structure.

Bitcoin Whales Remain Cautious as $120.24 Million Exits from ETFs

Bankless Latest Podcast: How to Find Undervalued Tokens from VVV to Hyperliquid?

Kalshi has filed to launch gold and silver perps

Renzo Protocol Renamed to Renzo Finance, Launches On-Chain Yield Product Renzo Basis

Hyperliquid Policy Center Requests Dismissal of CME's Lawsuit Against CFTC

Changes in Altcoin Selection Criteria Emphasize Actual Profit and Value Capture

300 into 2: An Experiment in Valuation of Real Protocol Revenues

US Crypto ETF Flows in the Red: XRP Holds Steady, Bitcoin Below $100 Billion

RWA Perpetual Contract Trading Volume Reaches $3.16 Trillion, Four Major Platforms Hold 86% Market Share









