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ZEC The privacy coin sector has risen 213% since Bitcoin's October 2025 high, with a significant single-coin driving effect.
According to market analysis released today by analyst Wise Crypto, although the Bitcoin (BTC) price is still far lower than its October 2025 high, the overall increase in the privacy coin sector has reached 213%. This is a relatively segmented market area, but the strong performance of one of the tokens, Zcash (ZEC), has successfully pushed the entire privacy sector into a positive range, while most other assets in the cryptocurrency market are still experiencing a year-long correction pressure.
A single sector is actually dominated by a single currency
Wise Crypto data shows that the total market value of the privacy sector has increased from US$7.1 billion a year ago to US$33.6 billion today. Among them, Zcash alone accounted for about 62% of the total, and its market value has increased 25 times in the past year. Its market value ranking once jumped from 82nd to 7th, although CoinGecko's latest data ranks it as 9th.
Data released by Glassnode last week reached a similar conclusion: The privacy sector was the only area trading above October highs, while asset prices in all other categories remained underwater, falling by double digits.
At the micro level, Grayscale's Zcash ETF (code $ZCSH) exceeded the US$500 million mark in assets within two weeks of listing. At the same time, Monero (XMR), the second-largest asset in the privacy category, has roughly doubled in price over the same period despite the risk of multiple exchanges being removed.
Wise Crypto pointed out that among the top 25 popular crypto assets by market capitalisation, only four tokens are still trading at prices above their October levels: ZEC, HYPE, XMR and WBT.
Investor View: The crypto narrative is expanding
Investor Dan Tapiero pointed out in an interview on September 11 that the performance of ZEC and HYPE in this cycle shows that the story of cryptocurrencies is no longer limited to Bitcoin, Ethereum and Solana. "Zcash has been a huge winner this year," he said, emphasizing that broader activities are being built beyond the three mainstream chains.
The following day, Infinex's Egor Sidelska believed that privacy technology was the only part of the cryptocurrency space that had not yet been fully replicated and cloned by other chains, and he called ZEC "the last non-random memecoin in cryptocurrencies that could bring a hundredfold return."
The rationality of the rally remains controversial
However, there are also voices of caution in the market. Analyst filbfilb recently questioned the credibility of Zcash's rally. He shared a valuation model, comparing ZEC's trading activity with Bitcoin in a similar issuance stage, and came up with an implied price of approximately $944, which is well below the current trading price. However, if Zcash can continue to narrow the gap, its fair value under the convergence scenario will be higher.
As of writing, the asset was trading at approximately US$1,140, flat during the day, rising 32% in the past two weeks and more than 2,100% in the past year, but still well below its all-time high of nearly US$3,190 set in 2016.
In comparison, Bitcoin's price is close to $77,000, falling slightly more than 1% in 24 hours and about 34% in a year, about 39% below its all-time high in October 2025.
