Zcash (ZEC) has overtaken Monero (XMR) by market capitalization after a sharp price rally pushed ZEC to $375 on Bitfinex, surpassing its 2021 peak of about $370 on the exchange. Zcash’s market cap rose above $6.25 billion, edging past Monero’s roughly $5.9 billion.
The move marks a notable shift within the privacy coin sector, which has faced sustained pressure in recent years amid regulatory concerns. Many exchanges reduced or removed spot trading support for privacy-focused assets. Monero has borne the brunt of that pressure due to its default private transaction design, while Zcash’s optional privacy feature has helped it remain listed on major exchanges aiming to align with compliance standards that discourage fully anonymous transactions.
ZEC’s latest surge places it among the most aggressive movers in the large-cap crypto segment. The token traded just above $25 at the start of the year and has climbed nearly 600% in October alone, and about 900% since early September. Despite the recent highs, Zcash remains below its January 2018 peak of around $800.
The rally spotlights ongoing market interest in privacy-enabled cryptocurrencies even as regulatory scrutiny persists. Whether Zcash can maintain its lead over Monero may depend on broader market conditions and how exchanges and policymakers continue to approach privacy features in digital assets.