Zcash and Monero lead gains as Bitcoin remains flat

Bitcoin and Ethereum spent the day doing their best impression of a screensaver. Zcash and Monero, meanwhile, were the top performers among the largest coins over the last 24 hours, according to Decrypt.

The privacy trade keeps running

Zcash (ZEC) is trading between $1,300 and $1,370 as of early October 2026. That puts its year-to-date gain above 700%.

The token hit an all-time high near $1,699 on September 26, 2026, then pulled back.

Monero (XMR) is priced around $560, also showing positive yearly gains. Its peak came earlier, at approximately $801 in January 2026, so the coin is still working its way back toward that mark.

The broader category tells a similar story. Privacy coins as a group are up 205% since April 2026.

In dollar terms, the sector added approximately $24.5 billion in market capitalization over a five-month stretch ending in late September 2026.

What is fueling Zcash specifically

Grayscale launched its ZCSH ETF on NYSE Arca on August 25, 2026. The fund attracted hundreds of millions in inflows in its early days before recent weeks brought some outflows as the price swung around.

The outflows are worth noting. ETF money tends to chase momentum, and ZEC’s retreat from its September high and the fund’s recent redemptions likely feed into each other.

Zcash also shipped a technical upgrade. The network upgrade known as NU7 activated faster blocks at 25-second intervals in early October 2026.

Monero’s tougher road

Monero has arguably the stronger reputation among privacy purists. Its transactions are private by default, while Zcash lets users choose between transparent and shielded transfers.

XMR continues to face pressure from potential delistings, even as it shows ongoing use in decentralized transactions. It has no comparable ETF product to lean on.

Why Bitcoin’s stall makes this stand out

Bitcoin is currently trading below its October 2025 peak. Ethereum has been similarly listless.

What this means for investors and the sector

The first takeaway is that the ETF effect is real, but it is not a one-way street. ZCSH gave Zcash a structural advantage over Monero, yet the recent outflows show that institutional money can amplify drawdowns just as easily as rallies.

The second is the widening gap between the two leading privacy coins. Regulated access appears to be the deciding factor in which privacy assets attract mainstream capital.

The third is risk. A 700%-plus annual move invites sharp corrections, and ZEC has already shown it can fall hard from a peak. Monero’s delisting overhang remains an unresolved threat to its liquidity.