ZEC and XMR aren't supposed to have utility in the traditional way a product based cryptocurrency has utility. HYPE accrues value because hyperliquid is a trading platform. There's a fee to use the product which is captured by the token via buybacks. ZEC and XMR are coins that are money. Money in-and-of itself doesn't need fees. It needs belief, scarcity and needs to find an error surface in existing digital money alternatives. ZEC and XMR are private SoVs. Something Bitcoin lacks. Hence the frame of reference isn't whether they have any utility. The question is, do they have adoption. XMR is used by half of all darknet markets launched in 2025. ZEC shielded balances are rising. Both have trade-offs w.r.t. their architectural choices and anonymity sets and you could argue one is better than the other depending on what stance you take. Comparing these coins against RAILGUN ZAMA or NIL doesn't make any sense because ZAMA competes with RAIL on private DeFi. NIL is about private compute. None of them are private money. If you don't even know why this coin exists in the first place, you can't do much analysis let alone trade it. You don't even know what you're buying.