Privacy coins (cryptocurrencies designed to protect transaction details) have gained 213% since Bitcoin’s October 2025 peak, even as BTC remains well below that level. The sector’s combined market capitalization rose from $7.1 billion a year ago to $33.6 billion, with Zcash accounting for roughly 62% after increasing 25-fold. ZEC briefly climbed from 82nd to seventh among crypto assets and currently ranks ninth on CoinGecko. Glassnode found privacy was the only sector trading above its October peak, while Grayscale’s Zcash ETF, $ZCSH, surpassed $500 million in assets within two weeks of launch. Monero, the second-largest privacy asset, approximately doubled despite exchange delistings. Analysts remain divided over whether Zcash’s rally is justified: valuation models cited by filbfilb implied about $944, below its current price near $1,140, while convergence scenarios produced higher fair values if network activity continues to catch up with Bitcoin’s. ZEC was flat on the day, up 32% over two weeks and more than 2,100% over one year, but remained below its 2016 all-time high near $3,190. Bitcoin traded near $77,000, down just over 1% in 24 hours and about 34% over one year, leaving it roughly 39% below its October 2025 all-time high.