On the day bitcoin ( BTC) reached $120,000 for the first time since Aug. 14, privacy coins stole the limelight with many seeing double-digit gains. Zcash (ZEC), which reached a three-year high 24 hours earlier, appeared to lead the charge after it rose by more than 20% on Oct. 2 to briefly peak at $156.80 before retreating to $132 (1:30 p.m. EST). As shown by Coingecko privacy coin market data, since Sept. 25, ZEC has seen its value go up by over 130%, the highest among privacy coins.

As reported by Bitcoin.com News, ZEC’s surge has been attributed to a number of factors including the announcement of the launch of the Grayscale Zcash Trust (ZCSH). Besides being seen as an important endorsement of ZEC, the announcement has been interpreted to signal growing institutional interest in the privacy coin sector. The introduction of cross-chain swap capabilities for zcash have been cited as another factor behind investors’ sudden interest in the coin.

The renewed appreciation for the core value proposition of privacy-focused cryptocurrencies has also benefited Monero ( XMR), which topped $340 for the first time since July 2025. XMR’s nearly 13% gain since Sept. 25 drove its market cap beyond the $6 billion, pushing it into the top 40 ranked digital assets.

Dash ( DASH) continued its upward momentum with a 4.6% gain over 24 hours, lifting its weekly performance to an impressive 61%. Similar surges were seen in Decred (DCR) and Verge (XVG), which posted double-digit daily gains, pushing their weekly returns to 21.9% and 43.8%, respectively.

Meanwhile, the No. 3-ranked coin Beldex (BDX) was one of a few privacy coins with negative weekly gains. Although it went up 1.2% in 24 hours, BDX’s price of $0.08036 at the time of writing was 9.6% lower than on Sept. 25. On the other hand, No. 6-ranked Zano (ZANO) was down 3.5% after 24 hours but up by 7.6% against the greenback over a seven-day period.

Privacy coin market capitalization jumped more than 21% to $10.3 billion on Sept. 25. This surge was nearly 10 times the growth rate of the broader crypto market.

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