Altcoin market trends: Privacy coins surge and protocols focus on revenue buybacks

The altcoin market is shifting focus from speculative meme coins toward revenue-generating protocols and privacy-focused assets. Zcash (ZEC) has seen a 218% year-to-date return, with open interest exceeding $2 billion. Meanwhile, protocols like Uniswap and Hyperliquid are utilizing revenue to buy back and burn tokens, with Uniswap having destroyed over $12 million in UNI since initiating its buyback program. Meme coin platforms remain active, though median returns for the sector remain negative.