If you've been following the crypto scene lately, you know things got wild overnight. We're talking about the largest liquidation event in crypto history, where more than $19 billion in positions got wiped out—dwarfing previous crashes like the COVID dip ($1.2B) and the FTX collapse ($1.6B). Yet, amid all this chaos, some coins not only survived but actually thrived. A tweet from @DegenerateNews highlighted this anomaly, spotlighting Zcash ($ZEC) pumping over 9% in 24 hours despite the bloodbath.

What Went Down in the Crypto Market?

For those new to the term, liquidations happen when leveraged trades go south, forcing platforms to close positions to prevent further losses. This event was triggered by broader market fears, including rumors of aggressive tariffs under a potential Trump administration redux, sending Bitcoin ($BTC) testing lows around $113K. It's like the market hit a massive air pocket, and leveraged longs (bets on prices going up) got absolutely rekt.

But here's the twist: while most of the market was in freefall, privacy coin Zcash and meme-focused blockchain MemeCore stood out. The screenshot shared in the tweet shows Zcash at the top with a 9.27% gain, trading at $258.90, followed closely by MemeCore at $2.23 with a 7.99% uptick. Stablecoins and gold-backed tokens like Tether Gold ($XAUt) and PAX Gold ($PAXG) rounded out the list, but their minimal gains pale in comparison.

Why Zcash? A Quick Primer

Zcash is a privacy-focused cryptocurrency that uses zero-knowledge proofs (fancy tech for proving something without revealing details) to keep transactions anonymous. Unlike Bitcoin, where everything's on a public ledger, Zcash offers shielded transactions for extra privacy. In a market crash, privacy coins like this can attract investors seeking safe havens or those hedging against regulatory scrutiny. Its resilience here might signal renewed interest in privacy tech amid growing concerns over surveillance in crypto.

MemeCore's Rise: A Win for Meme Tokens

Now, as folks at Meme Insider, we're particularly excited about MemeCore ($M). This isn't your average meme coin—it's an entire Layer 1 blockchain designed specifically for the next wave of meme culture, or "Meme 2.0" as they call it. Think of it as a playground where creators and communities can build and launch meme tokens with ease, complete with tools for viral marketing and community engagement.

Seeing MemeCore snag the #2 spot in gains during such a downturn is huge. It shows that even in bearish times, projects with strong narratives and utility can defy gravity. MemeCore's recent updates, like new syrup pools for staking on platforms like PancakeSwap, might be fueling this momentum. If you're into meme tokens, this could be a sign that dedicated ecosystems like MemeCore are maturing beyond pump-and-dump schemes.

What This Means for Blockchain Practitioners

For devs and traders in the blockchain space, events like this underscore the importance of diversification. While leveraged trading can amplify gains, it also leads to massive wipeouts—hence the record liquidations. Coins like Zcash remind us that privacy remains a hot topic, especially with evolving regs. On the meme side, MemeCore's performance hints at a shift toward more sustainable meme projects that integrate real tech.

If you're looking to level up your knowledge, check out resources on zero-knowledge proofs or dive into MemeCore's docs for building on their chain. Volatility is crypto's middle name, but spotting these outliers can give you an edge.

Wrapping It Up

The @DegenerateNews tweet captures a bizarre moment in crypto: destruction everywhere, but green shoots in unexpected places. Whether it's Zcash's privacy appeal or MemeCore's meme magic, these gains amid $19B in liquidations prove the market's unpredictability. Stay tuned to Meme Insider for more on how meme tokens are evolving in this wild ecosystem. What's your take—bullish on privacy or memes? Drop your thoughts below!