The performance of privacy coins in 2025 has shown a clear divergence. Zcash has performed remarkably in this round of the market, with a surge of up to 2000%, and its market capitalization has already approached Monero.

According to the latest data, Zcash's market cap has reached $7.3 billion, while Monero's is $8.1 billion. The valuation gap between the two has been compressed to a very small range. This shift is quite interesting—the previous market cap difference is now essentially level, which also prompts new reflections: when it comes to privacy coin choices, what decisions will users and investors make in 2026? Will they continue to favor Monero's long-term position, or recognize Zcash's growth potential? Whether the two different privacy technology routes can reach a new market equilibrium is worth observing.