Trailing 24-hour notional trading volume (USD) on the ZEC and BTC Hyperliquid perpetual-swap markets. ZEC on the left axis, BTC on the same LOG axis, so the size gap between them is visible rather than scaled away.
This is derivatives volume (leveraged perps), distinct from spot exchange volume. Toggle 7-day-smoothed (default) vs raw daily with the “7-day avg” chip. Only collected from when this site began snapshotting Hyperliquid (there is no historical volume endpoint), so it accumulates going forward. Source: Hyperliquid metaAndAssetCtxs (dayNtlVlm).
BTC Perp Volume (24h) was $3.12B on 2026-09-25, the last full day of data. That is 20.7% lower than 28 days ago, when it was $3.94B.
🔗 permalink ⇆ compareThis is trailing 24-hour notional volume on Hyperliquid's ZEC and BTC perpetual-swap markets. Nothing here happens on the Zcash chain. No coin moves, no pool balance changes, and none of it appears in supply or transactions. It is a claim about price, settled on another system entirely.
One venue, not the market. Hyperliquid is where this data comes from because it publishes it; other venues are larger and are not in these lines. Read levels as “on this exchange” and trends as the part that generalises.
Both series share one logarithmic axis so the size gap between ZEC and BTC stays visible instead of being scaled away. A constant vertical distance is a constant RATIO — the gap is the point, and flattening it would hide the only honest comparison available.
Notional, and leveraged. A dollar of margin can move many dollars of notional, so this number is not a dollar of demand for ZEC. Compare it with spot exchange volume before treating either as a measure of interest in the asset.