- Privacy coins are up 213% since Bitcoin’s October 2025 market top.
- Zcash price surged 2,496%, growing the sector’s market cap to $33.6 billion.
More than 335 days after Bitcoin’s October 2025 all-time high, the privacy coin sector is the only crypto category trading above its level at that peak, up 213%, according to Glassnode data as of September 6. Bitcoin itself remains 36% below its high, while the median top-200 asset sits 58% lower.
Zcash (ZEC) Price Surge Drives a $33.6 Billion Sector
Privacy is the sole sector trading higher than it did at the market top, up 213%, according to Glassnode data. Other sectors remain below their peaks, ranging from DeFi at 27% lower to Gaming at 74% lower.
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The privacy sector’s market capitalization has grown from $7.1 billion a year ago to $33.6 billion, nearly half of that added in the past 30 days alone, as the Zcash price rally drives much of the sector’s recent growth.
Zcash (ZEC) accounts for most of the move, surging 2,496% and climbing from rank 82 to rank 10 by market cap. ZEC now makes up roughly 62% of the sector’s total value, making Zcash the dominant privacy coin by market capitalization.
Monero (XMR) has doubled over the same period, while DASH, XMR, and ZEN each outperformed Bitcoin over the trailing 90 days, adding to the latest privacy coin market momentum highlighted in Zcash news.
Excluding ZEC, the remaining privacy basket is still up 85% year-to-date and 56% since Bitcoin’s price peak. All eight privacy coins with a full year of trading history are currently positive.
Among the 25 largest assets, only four trade above their October 2025 levels: Zcash (ZEC), Hyperliquid’s HYPE, Monero (XMR), and WhiteBIT Coin (WBT). Two of the four are privacy coins, with Zcash leading the group after its sharp price increase.
Privacy Coins Lead the Latest Crypto Market Rebound
The past 30 days marked a rebound in the broader crypto market. All 10 sectors recorded gains, while privacy led with a 90% increase, keeping Zcash price performance and other privacy coins firmly in focus.
Glassnode also reported that 91.5% of the top 200 assets gained during the month, the broadest monthly advance in its dataset.
Despite that breadth, yearly performance remains concentrated. Only 25 of the 200 largest assets are positive for the year, while the median asset remains down 55%, making Zcash’s 2026 performance a notable outlier in the crypto market.
What Triggered the Zcash (ZEC) Price Rally?
The launch of the Grayscale Zcash Trust ETF (ZCSH) on NYSE Arca on August 25 marked a major catalyst for Zcash. Converted from the Grayscale Zcash Trust, it became the first U.S. spot ETF for a privacy coin, with assets reaching roughly $414 million to $463 million within two weeks and creating a new channel for institutional exposure to ZEC.
Regulatory uncertainty also eased in January 2026, when the SEC closed its multi-year investigation into the Zcash Foundation without enforcement action. The move removed a long-standing overhang that had weighed on institutional interest in Zcash.
Broader demand for privacy coins provided additional support. Rising shielded-pool adoption, institutional accumulation, growing concerns around AI-driven surveillance, and improved liquidity through native THORChain swaps for XMR and ZEC helped lift the wider sector.
On the Flipside
- ZEC represents roughly 62% of the privacy sector, making the sector’s performance heavily concentrated in one asset.
Why the Zcash Price Surge Matters
Zcash (ZEC) 2,496% surge has pushed privacy coins above Bitcoin’s October 2025 peak while most of the crypto market remains below it. Privacy coins breaking away from a market still 58% underwater on average signals renewed investor interest in anonymity-focused assets. Whether this marks a durable trend or a temporary outlier will shape sector rotation in the months ahead.
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