While the broader crypto market is down by 1.5%, one corner of the industry is exploding, Privacy coins. Recent data from a leading onchain data provider, CryptoQuant, shows that Zcash (ZEC), Dash (DASH), Monero (XMR), Verge (XVG), and Secret Network (SCRT) have seen record-breaking gains between 20% and 700%.
According to CryptoQuant data, privacy coins are making a strong comeback, led by Zcash’s explosive rise. Zcash (ZEC) has re-entered the top 20 cryptocurrencies, surging above $600 for the first time in almost seven years and recording $20 billion in futures trading volume.
Similarly, Dash is following closely behind, jumping nearly 50% in just 24 hours and reaching its highest level since early 2022. Its trading volume soared to $5.4 billion, pushing its market cap to around $1.8 billion.
Meanwhile, Monero (XMR) recorded $461.8 million in futures volume, followed by Verge (XVG) and Secret Network (SCRT) with $403.98 million and $228.35 million, respectively.
Overall, privacy coin volumes have surpassed previous market peaks, signaling a strong and lasting rise in investor interest, not just a short-term rally.
Further CryptoQuant data also reveals a sharp jump in retail trading, especially for Zcash (ZEC) and Dash (DASH). Futures trading activity for both coins has jumped sharply, a clear sign that FOMO is back and retail participation is heating up fast.
While Binance remains the main hub for privacy coin trading, handling about 78% of all volume, Bybit follows far behind with 17%
However, privacy coins now account for 6% of total crypto trading volume, the highest in history, meaning one in every 16 trades involves a privacy-focused token. Their market cap soared to $41.7 billion, rising 41% in a single day this November.
Interestingly, the Cryptoquant report’s heatmap shows privacy coins tend to rally when Bitcoin stays quiet. When BTC stabilizes, traders look for excitement in coins like ZEC, DASH, XMR, XVG, and SCRT.
However, these tokens have outperformed both Bitcoin and most altcoins recently, fueled by strong technical setups and renewed talk about digital privacy and sovereignty.
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