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The privacy-focused crypto asset zcash ($ZEC) has retreated sharply from its peak just above $741 on Nov. 15, sliding to a low of $411 as of Tuesday, Dec. 16. Meanwhile, $ZEC rival monero ( $XMR) has continued to push higher, advancing more than 15% over the past seven days.
Privacy Coin Shakeout Leaves Zcash Reeling and Monero Standing Tall
$ZEC is down 44.54% since touching $741 against the U.S. dollar on Bitfinex roughly 31 days ago. The privacy-enhanced cryptocurrency is lower by 3.1% this week and has trimmed about 1.4% over the past day. While $ZEC digests its dramatic run-up and subsequent pullback, it still boasts a 626% gain from its price level on Dec. 16, 2024.
Privacy coins as a category, based on coingecko.com’s aggregated sector data, carry a combined valuation of $17.35 billion. $ZEC stands as the second-largest privacy coin by market cap, with its current $6.76 billion valuation representing 38.97% of the sector’s total value. Monero ( $XMR) now commands the top spot by market cap after recently reclaiming the first place position from zcash.
$XMR’s market behavior has followed a distinctly different path, rising 3.2% today and posting a 15.4% gain over the past week. In November, it reached $437 per coin and is currently trading at $426. While $XMR has led recent gains, the 12-month comparison still favors $ZEC, whose 626% advance since Dec. 16, 2024, far exceeds $XMR’s 102% increase over the same period.
Even as the broader crypto economy has moved lower, $XMR’s price has held relatively steady without experiencing a pronounced drop. The coin remains about 21% below its early 2018 level, when it peaked near $542 almost eight years ago. Another privacy coin drawing attention this week was beldex (BDX), which notched a gain of roughly 5.9% over the seven-day span.
The remainder of the top privacy coins by market cap posted double-digit losses, many steeper than $ZEC’s decline. DASH fell 14.4% this week, DCR dropped 18.8%, and MWC recorded an even sharper slide of 20.5%. Zano (ZANO) declined 10.5%, horizen (ZEN) sank 18.8%, and verge (XVG) is down 15.4% over the past seven days against the greenback.
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Taken together, the divergence between $ZEC and $XMR highlights a clear split within the privacy-coin segment, where recent momentum and longer-term performance are telling different stories. $ZEC remains weighed down by its steep pullback despite its outsized gains over the past year, while $XMR continues to benefit from steadier price behavior amid broader market pressure.
As losses ripple through much of the privacy-coin cohort, the divide between near-term stability and longer-horizon performance has grown harder to overlook. While $ZEC commanded much of the attention last month, $XMR has since claimed that focus and pressed ahead. How long these patterns persist remains an open question, as December’s crypto market has delivered little beyond constant surprises.
FAQ ❓
- Why did zcash ($ZEC) drop after its November high? $ZEC pulled back after peaking in mid-November as price cooled following a sharp run-up.
- Is monero ( $XMR) outperforming other privacy coins? Yes. $XMR has held steadier price action in recent weeks while much of the privacy-coin sector moved lower.
- How large is the privacy-coin market today? The privacy-coin sector carries a combined market value of about $17.35 billion, with $XMR and $ZEC accounting for most of it.
- Are other privacy coins also declining? Yes, several leading privacy coins posted double-digit weekly losses alongside $ZEC.