Crypto traders Axel Bitblaze and Taiki Maeda are making a contrarian call: altcoins like Hyperliquid (HYPE), Lighter (LIT), and Zcash (ZEC) are already trading like winners of the next cycle, even as most investors wait for a Q4 2026 bottom. Maeda said on July 15 that crypto was bottoming and he would long those three tokens. Bitblaze argues the market has been in a bear since mid-2025, when ETH was near $5,000, and the expected bottom is Q4 2026 — but he advises positioning between August and September, because markets tend to front-run expectations.
Why HYPE and LIT are outperforming
Hyperliquid has bought back about 3.4% of its circulating supply this year, allowing it to perform well even as Bitcoin struggled. Bitblaze noted that if Bitcoin volatility causes a HYPE dip without changing fundamentals, it could be an accumulation opportunity. Lighter token is presented as a higher-risk alternative, with a reported partnership with Robinhood giving it access to a wider audience. Buybacks have removed more than 6% of LIT's circulating supply, helping push it to an all-time high on December 30, 2025.
ZEC's rollercoaster and the Ironwood fix
Zcash took a brutal hit after a vulnerability in its Orchard shielded pool that could allow creation of unlimited fake ZEC, causing a 60% collapse. Maeda sold his ZEC, then bought most of it back after reassessing the project's outlook. The Ironwood upgrade is set for July 28, expected to introduce stronger quantum resistance and use formal verification to reduce hidden bug risks. Zcash founder Zooko Wilcox said they are close to producing a mathematical proof that Ironwood's new shielded pools have no undetectable counterfeiting bugs, which pushed ZEC past $500. ZEC is trading at about 0.8% of Bitcoin's market cap; Maeda's model suggests it could go between $650 and $700 if that ratio climbs to 1%.
Timing the bottom
Bitblaze stated that crypto has been in a bear market since mid-2025, and the expected bottom is Q4 2026. He advises traders to position between August and September, as markets tend to front-run expectations and the next winner often separates before the bottom is obvious. For now, the three tokens are showing signs of life — but the real test comes July 28, when Zcash's Ironwood upgrade goes live, and whether the ratio can climb to that 1% target.
