Zcash (ZEC), Monero (XMR), and Dash (DASH) Lead Privacy Coin Surge as Bitcoin Hits $120K

Privacy Coins Outperform as Market Momentum Builds

As Bitcoin (BTC) crossed the $120,000 mark for the first time since mid-August, privacy coins stole the spotlight with major double-digit rallies across the board. Zcash (ZEC) led the surge, notching a new three-year high after climbing more than 20% on October 2 to briefly hit $156.80 before easing to $132 later in the session.

According to CoinGecko’s privacy coin data, ZEC has skyrocketed over 130% since September 25, marking the strongest performance among privacy-focused cryptocurrencies.

Why Zcash Is Surging

ZEC’s recent rally has been fueled by several catalysts. A major factor is the announcement of the Grayscale Zcash Trust (ZCSH) — seen by investors as a signal of growing institutional confidence in the privacy coin sector.

In addition, Zcash’s cross-chain swap integration has improved its utility and accessibility, attracting renewed interest from investors who value on-chain privacy and decentralized transactions.

Market analysts say this combination of institutional adoption and enhanced functionality has reignited enthusiasm for privacy-oriented assets, which had been relatively quiet in recent months.

Exploring the surge in ZEC, XMR, DASH: privacy coins get spotlight as BTC hits $120K.

Monero and Dash Join the Momentum

The bullish sentiment also lifted other top privacy coins. Monero (XMR) climbed above $340 for the first time since July 2025, representing a 13% gain since late September. Its market capitalization has now exceeded $6 billion, pushing XMR firmly back into the top 40 digital assets by value.

Meanwhile, Dash (DASH) extended its impressive run with a 4.6% gain in 24 hours, boosting its weekly performance to an outstanding 61%. Other privacy coins such as Decred (DCR) and Verge (XVG) also posted notable double-digit daily gains, with weekly increases of 21.9% and 43.8%, respectively.

Mixed Results Among Smaller Privacy Tokens

Not every privacy asset participated in the rally. Beldex (BDX), ranked third among privacy coins, gained 1.2% in 24 hours but still remained 9.6% lower than its September 25 level. Similarly, Zano (ZANO) dipped 3.5% in 24 hours, although it was still up 7.6% for the week.

Overall, the privacy coin market capitalization surged 21% to $10.3 billion, nearly ten times the growth rate of the broader cryptocurrency market.

The Bigger Picture

The resurgence of privacy coins reflects growing investor recognition of the importance of transactional privacy in an era of increasing regulatory oversight. As Bitcoin strengthens its dominance above $120K, these privacy-focused assets are proving they still have strong appeal among crypto users seeking anonymity and decentralized financial freedom.

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