Five-year price · 20 complete calendar quarters · BTC-relative

Privacy Crypto Coins

Is Privacy outperforming Bitcoin, and is leadership broad?

Bottom line

Zcash ranks first for research priority in Privacy crypto at 68.7/100, and its native activity proof is incomplete. The theme's 13-week excess versus Bitcoin is +15.3% on 17% breadth, which is what decides whether that lead is isolated or broad. 2 of the 24 assets here carry enough native evidence to move past a tape-led label.

These Privacy coins are part of the cryptocurrency universe this site tracks daily — 894 of the top 1,000 crypto currency assets by market cap, priced from exchange closes and matched to protocol fees and revenue where a protocol publishes them.

The theme itself · before any single company

How has Privacy moved against Bitcoin?

The line below covers up to 5 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this theme is 90% ahead of Bitcoin. Protocol revenue across its protocols grew 12% on average over the last four reported quarters. It has been ahead of Bitcoin on a rolling three-month view for 12 weeks running.

FADING · −4 in 4w✓Price and the fundamentals both up8 of 24 coins ahead of Bitcoin by 5% or more over three months

RS ↑12w · 4/24 >200d (+1) · 8/24 lead (−4) · EPS 2/3↑

Privacy, equal-weighted, based at 200 Bitcoin, same base, same start trailing 12-month protocol revenue rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the theme line is an equal-weighted index of its 24 coins. The bars underneath are trailing 12-month protocol revenue, one bar per reported quarter, each member rebased to 100 at the start and the theme taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while protocol revenue grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

RISK OFF market context

Privacy vs Bitcoin — Relative Strength & Breadth

Privacy crypto has outperformed Bitcoin by 96.9% over 52 weeks on an equal-weight index of current members. Over 13 weeks the figure is +15.3%. 4 of 23 covered assets are above their own 200-day average. Zama leads Bitcoin-relative strength at +112.9%. Price readings are as of 2026-07-31.

+15%13w vs BTC

+97%52w vs BTC

4/23Above 200-DMA

ZAMARS leader · +113%

Assets

canonical functional membership

Activity-covered

2/24

enough native evidence

Top score

68.7/100

Zcash

Calendar quarters

complete; missing stays missing

Global asset selection · top 20 shown

Showing 20 of 24 assets

00 · exact additive research priority

4-Factor Crypto Evidence Score

A within-theme research-priority score for the 24 assets in Privacy, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. Zcash is highest at 68.7/100 on 50% evidence. It ranks research attention, not portfolio action.

Market leadership · 35Network & economic traction · 30Value capture · 20Liquidity & downside risk · 15

Zcash leads the current research queue at 68.7/100 with 50% evidence.

2/24 assets have enough native activity evidence to move beyond a tape-led label.

3 of the 27 Privacy coins are not rated this week: 2 have no price within 7 days, 1 reports no traded volume. They are listed in full below the ranking.

Missing native metrics are not scored as zero and are not silently reweighted. They pull only the affected factor toward neutral and lower its visible evidence percentage. An asset with nothing measurable at all is not scored at 50 either — it is listed as not rated.

1. Zcash · ZEC

68.7/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 32.2 + 15.0 + 10.0 + 11.5 = 68.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

32.2/35Market leadership

RS-BTC 38.2 pp · RS-sector 13.2 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.5/15Liquidity & downside risk

30d median volume $420,156,609 · vol 85.5%

100% evidence

2. Zama · ZAMA

67.8/100 · Tape-led · on-chain proof incomplete · 43% evidence

Exact sum: 31.3 + 15.0 + 10.0 + 11.5 = 67.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

31.3/35Market leadership

RS-BTC 112.9 pp · RS-sector 59.8 pp · 200-DMA above

80% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.5/15Liquidity & downside risk

30d median volume $25,808,931 · vol 100.4%

100% evidence

3. Anoma · XAN

62.6/100 · Illiquid · research only · 50% evidence

Exact sum: 29.4 + 15.0 + 10.0 + 8.2 = 62.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

29.4/35Market leadership

RS-BTC 50.9 pp · RS-sector 10.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.2/15Liquidity & downside risk

30d median volume $4,710,588 · vol 129.4%

100% evidence

4. Monero · XMR

62.1/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 23.3 + 15.0 + 10.0 + 13.8 = 62.1

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

23.3/35Market leadership

RS-BTC 13.7 pp · RS-sector 19.5 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

13.8/15Liquidity & downside risk

30d median volume $92,016,431 · vol 41.6%

100% evidence

5. MimbleWimbleCoin · MWC

58.6/100 · Illiquid · research only · 50% evidence

Exact sum: 32.1 + 15.0 + 10.0 + 1.5 = 58.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

32.1/35Market leadership

RS-BTC 82.8 pp · RS-sector 61.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

1.5/15Liquidity & downside risk

30d median volume $735 · vol 96.9%

100% evidence

6. Litecoin · LTC

53.5/100 · Tape-led · on-chain proof incomplete · 55% evidence

Exact sum: 16.4 + 13.1 + 10.0 + 14.0 = 53.5

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

16.4/35Market leadership

RS-BTC 0.1 pp · RS-sector 7.2 pp · 200-DMA below

100% evidence

13.1/30Network & economic traction

Fees — · revenue — · users —

17% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

14.0/15Liquidity & downside risk

30d median volume $218,573,632 · vol 36.7%

100% evidence

7. ZEROBASE · ZBT

52.7/100 · Illiquid · research only · 17% evidence

Exact sum: 17.5 + 17.3 + 10.0 + 7.9 = 52.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

17.3/30Network & economic traction

Fees — · revenue — · users —

17% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

7.9/15Liquidity & downside risk

30d median volume $2,191,758 · vol —

80% evidence

8. Dash · DASH

52.0/100 · Tape-led · on-chain proof incomplete · 55% evidence

Exact sum: 15.2 + 14.7 + 10.0 + 12.1 = 52.0

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

15.2/35Market leadership

RS-BTC 3 pp · RS-sector -3.5 pp · 200-DMA below

100% evidence

14.7/30Network & economic traction

Fees — · revenue — · users —

17% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

12.1/15Liquidity & downside risk

30d median volume $47,919,205 · vol 50.9%

100% evidence

9. Zano · ZANO

51.6/100 · Illiquid · research only · 50% evidence

Exact sum: 20.2 + 15.0 + 10.0 + 6.4 = 51.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

20.2/35Market leadership

RS-BTC 19.3 pp · RS-sector 2.3 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.4/15Liquidity & downside risk

30d median volume $1,255,376 · vol 77.3%

100% evidence

10. Tornado Cash · TORN

50.4/100 · Illiquid · research only · 65% evidence

Exact sum: 15.5 + 15.2 + 15.0 + 4.7 = 50.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

15.5/35Market leadership

RS-BTC -6.9 pp · RS-sector 13.9 pp · 200-DMA below

100% evidence

15.2/30Network & economic traction

Fees — · revenue — · users —

17% evidence

15.0/20Value capture

Fee yield 26.3% · revenue yield —

50% evidence

4.7/15Liquidity & downside risk

30d median volume $58,980 · vol 64.9%

100% evidence

11. Pirate Chain · ARRR

47.2/100 · Illiquid · research only · 50% evidence

Exact sum: 18.7 + 15.0 + 10.0 + 3.5 = 47.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

18.7/35Market leadership

RS-BTC 22.3 pp · RS-sector -11.2 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

3.5/15Liquidity & downside risk

30d median volume $80,069 · vol 69.2%

100% evidence

12. Decred · DCR

46.4/100 · Illiquid · research only · 50% evidence

Exact sum: 15.0 + 15.0 + 10.0 + 6.4 = 46.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

15.0/35Market leadership

RS-BTC -10.2 pp · RS-sector 23.6 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.4/15Liquidity & downside risk

30d median volume $1,695,871 · vol 80.9%

100% evidence

13. Mina Protocol · MINA

44.3/100 · Illiquid · research only · 50% evidence

Exact sum: 11.0 + 15.0 + 10.0 + 8.3 = 44.3

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

11.0/35Market leadership

RS-BTC -12.4 pp · RS-sector 5.3 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.3/15Liquidity & downside risk

30d median volume $4,351,106 · vol 76.5%

100% evidence

14. Railgun · RAIL

43.5/100 · Illiquid · research only · 91% evidence

Exact sum: 17.8 + 11.3 + 12.2 + 2.2 = 43.5

Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree.

17.8/35Market leadership

RS-BTC 31.4 pp · RS-sector -24.2 pp · 200-DMA below

100% evidence

11.3/30Network & economic traction

Fees -6.2% · revenue -6.2% · users —

70% evidence

12.2/20Value capture

Fee yield 3.88% · revenue yield 3.88%

100% evidence

2.2/15Liquidity & downside risk

30d median volume $85,398 · vol 110.3%

100% evidence

15. Horizen · ZEN

40.9/100 · Tape-led · on-chain proof incomplete · 55% evidence

Exact sum: 7.0 + 12.5 + 10.0 + 11.4 = 40.9

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

7.0/35Market leadership

RS-BTC -17.4 pp · RS-sector -0.5 pp · 200-DMA below

100% evidence

12.5/30Network & economic traction

Fees — · revenue — · users —

17% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.4/15Liquidity & downside risk

30d median volume $10,216,859 · vol 45%

100% evidence

16. Arcium · ARX

40.8/100 · Illiquid · research only · 50% evidence

Exact sum: 11.2 + 15.0 + 10.0 + 4.6 = 40.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

11.2/35Market leadership

RS-BTC -7 pp · RS-sector 0 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

4.6/15Liquidity & downside risk

30d median volume $152,673 · vol 32.2%

100% evidence

17. Ergo · ERG

38.8/100 · Illiquid · research only · 55% evidence

Exact sum: 9.8 + 12.8 + 10.0 + 6.2 = 38.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

9.8/35Market leadership

RS-BTC -12.2 pp · RS-sector 4.7 pp · 200-DMA below

100% evidence

12.8/30Network & economic traction

Fees — · revenue — · users —

17% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.2/15Liquidity & downside risk

30d median volume $110,209 · vol 36.8%

100% evidence

18. Verge · XVG

37.0/100 · Illiquid · research only · 50% evidence

Exact sum: 4.2 + 15.0 + 10.0 + 7.8 = 37.0

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

4.2/35Market leadership

RS-BTC -20.8 pp · RS-sector -9.1 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

7.8/15Liquidity & downside risk

30d median volume $2,444,348 · vol 50.3%

100% evidence

19. Nockchain · NOCK

36.1/100 · Illiquid · research only · 50% evidence

Exact sum: 8.7 + 15.0 + 10.0 + 2.4 = 36.1

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

8.7/35Market leadership

RS-BTC -9.1 pp · RS-sector -35.9 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

2.4/15Liquidity & downside risk

30d median volume $874,454 · vol 202.4%

100% evidence

20. Tezos · XTZ

35.8/100 · Lagging · market gate closed · 91% evidence

Exact sum: 5.4 + 17.8 + 2.9 + 9.7 = 35.8

Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree.

5.4/35Market leadership

RS-BTC -24.9 pp · RS-sector -0.7 pp · 200-DMA below

100% evidence

17.8/30Network & economic traction

Fees 10.5% · revenue 11.8% · users —

70% evidence

2.9/20Value capture

Fee yield 0.19% · revenue yield 0.17%

100% evidence

9.7/15Liquidity & downside risk

30d median volume $8,744,526 · vol 73.7%

100% evidence

Showing 20 of 24 ranked assets

01 · complete calendar-quarter evidence

Which projects are generating the most network fees?

LeaderTornado Cash · $5.5M

Gap21% versus #2

Persistence2 assets have positive comparable growth

Coverage3/24 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.

Trailing 12-month fees is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.

Trailing 12-month feestop five

1Tornado Cash TORN$5.5M

2Railgun RAIL$4.6M

3Tezos XTZ$500.4K

Fee growthtop five

1Tezos XTZ+11%

2Litecoin LTC+5.5%

3Railgun RAIL-6.2%

Network fees · asset comparison

3/24 level · 3/24 change

Latest comparable data · top 20 shown first

Asset	Trailing 12-month fees	Fee growth
zcash	—	—
zama	—	—
anoma	—	—
monero	—	—
mimblewimblecoin	—	—
litecoin	$39.6K	+5.5%
zerobase	—	—
dash	—	—
zano	—	—
tornado-cash	$806.2K	—
pirate-chain	—	—
decred	—	—
mina-protocol	—	—
railgun	$1.0M	-6.2%
zencash	—	—
arcium	—	—
ergo	—	—
verge	—	—
nockchain	—	—
tezos	$26.1K	+11%
humanity	—	—
oasis-network	—	—
aleo	—	—
midnight-3	—	—

Showing 20 of 24 assets

02 · complete calendar-quarter evidence

Which projects convert activity into protocol revenue?

LeaderRailgun · $4.6M

Gap890% versus #2

Persistence1 assets have positive comparable growth

Coverage2/24 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.

Trailing 12-month revenue is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.

Trailing 12-month revenuetop five

1Railgun RAIL$4.6M

2Tezos XTZ$461.6K

Revenue growthtop five

1Tezos XTZ+12%

2Railgun RAIL-6.2%

Protocol revenue · asset comparison

2/24 level · 2/24 change

Latest comparable data · top 20 shown first

Asset	Trailing 12-month revenue	Revenue growth
zcash	—	—
zama	—	—
anoma	—	—
monero	—	—
mimblewimblecoin	—	—
litecoin	—	—
zerobase	—	—
dash	—	—
zano	—	—
tornado-cash	$0	—
pirate-chain	—	—
decred	—	—
mina-protocol	—	—
railgun	$1.0M	-6.2%
zencash	—	—
arcium	—	—
ergo	—	—
verge	—	—
nockchain	—	—
tezos	$21.7K	+12%
humanity	—	—
oasis-network	—	—
aleo	—	—
midnight-3	—	—

Showing 20 of 24 assets

03 · complete calendar-quarter evidence

Where is capital actually committed on-chain?

LeaderTornado Cash · $428.5M

Gap449% versus #2

Persistence2 assets have positive comparable growth

Coverage11/24 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

Quarter-end TVL uses protocol TVL first for protocol assets and exact-ID chain TVL for chain assets or where protocol TVL is unavailable. A blank is unavailable, not zero. Growth compares with the same complete quarter one year earlier.

Quarter-end TVLtop five

1Tornado Cash TORN$428.5M

2Railgun RAIL$78.0M

3ZEROBASE ZBT$55.9M

4Zama ZAMA$32.0M

5Tezos XTZ$21.1M

TVL growthtop five

1ZEROBASE ZBT+60%

2Railgun RAIL+29%

3Tornado Cash TORN-7.2%

4Dash DASH-18%

5Oasis ROSE-19%

Total value locked · asset comparison

11/24 level · 9/24 change

Latest comparable data · top 20 shown first

Asset	Quarter-end TVL	TVL growth
zcash	$1.7M	—
zama	$32.0M	—
anoma	—	—
monero	—	—
mimblewimblecoin	—	—
litecoin	$654.8K	-73%
zerobase	$55.9M	+60%
dash	$75.9K	-18%
zano	—	—
tornado-cash	$428.5M	-7.2%
pirate-chain	—	—
decred	—	—
mina-protocol	—	—
railgun	$78.0M	+29%
zencash	$0	-100%
arcium	—	—
ergo	$832.5K	-79%
verge	—	—
nockchain	—	—
tezos	$21.1M	-44%
humanity	—	—
oasis-network	$184.9K	-19%
aleo	—	—
midnight-3	—	—

Showing 20 of 24 assets

04 · let price answer last

Which assets lead on price and relative strength?

Zama leads the Privacy tape on Bitcoin-relative strength at +113% over 90 days. 4 of 23 covered assets are above their own 200-day average. Price shows what happened; BTC-relative strength shows whether the asset beat crypto’s opportunity-cost benchmark. Both lines run through 2026-07-31.

Complete set · no silent drops

Which assets are in Privacy?

24 of the 27 coins assigned to Privacy are rated and ranked below, and the other 3 are listed under it with the reason each one is not rated — tape-only names that publish no protocol activity included. Each asset has exactly one canonical functional theme, chosen by a specific-to-general first match on its categories.

Rank	Asset	Price	90d	RS-BTC	200-DMA	30d vol	Median volume	Price quality	Activity source	Score	Evidence
1	Zcash ZEC	$457.10	+18%	+38%	Above	85%	$420.2M	usable	chain TVL	68.7	50%
2	Zama ZAMA	$0.0523	+93%	+113%	Above	100%	$25.8M	usable	protocol	67.8	43%
3	Anoma XAN	$0.0111	+31%	+51%	Above	129%	$4.7M	usable	tape only	62.6	50%
4	Monero XMR	$358.34	-6.5%	+14%	Below	42%	$92.0M	usable	tape only	62.1	50%
5	MimbleWimbleCoin MWC	$10.85	+63%	+83%	Above	97%	$735	usable	tape only	58.6	50%
6	Litecoin LTC	$44.24	-20%	+0.1%	Below	37%	$218.6M	usable	protocol + chain TVL	53.5	55%
7	ZEROBASE ZBT	$0.1142	—	—	—	—	$2.2M	usable	protocol	52.7	17%
8	Dash DASH	$30.80	-17%	+3.0%	Below	51%	$47.9M	usable	chain TVL	52.0	55%
9	Zano ZANO	$8.97	-0.9%	+19%	Below	77%	$1.3M	usable	tape only	51.6	50%
10	Tornado Cash TORN	$5.58	-27%	-6.9%	Below	65%	$59.0K	usable	protocol	50.4	65%
11	Pirate Chain ARRR	$0.2066	+2.2%	+22%	Below	69%	$80.1K	usable	tape only	47.2	50%
12	Decred DCR	$13.14	-30%	-10%	Below	81%	$1.7M	usable	tape only	46.4	50%
13	Mina Protocol MINA	$0.0407	-33%	-12%	Below	77%	$4.4M	usable	tape only	44.3	50%
14	Railgun RAIL	$1.45	+11%	+31%	Below	110%	$85.4K	usable	protocol	43.5	91%
15	Horizen ZEN	$3.88	-38%	-17%	Below	45%	$10.2M	usable	chain TVL	40.9	55%
16	Arcium ARX	$0.0110	-27%	-7.0%	Below	32%	$152.7K	usable	tape only	40.8	50%
17	Ergo ERG	$0.2044	-32%	-12%	Below	37%	$110.2K	usable	chain TVL	38.8	55%
18	Verge XVG	$0.0019	-41%	-21%	Below	50%	$2.4M	usable	tape only	37.0	50%
19	Nockchain NOCK	$0.0127	-29%	-9.1%	Below	202%	$874.5K	usable	tape only	36.1	50%
20	Tezos XTZ	$0.2011	-45%	-25%	Below	74%	$8.7M	usable	protocol + chain TVL	35.8	91%
21	Humanity H	$0.0631	-67%	-47%	Below	106%	$7.9M	usable	tape only	34.9	50%
22	Oasis ROSE	$0.0051	-49%	-29%	Below	51%	$1.6M	usable	chain TVL	33.2	55%
23	ALEO ALEO	$0.0169	-62%	-42%	Below	51%	$1.6M	usable	tape only	33.0	50%
24	Midnight NIGHT	$0.0181	-43%	-23%	Below	171%	$515.8K	usable	tape only	32.1	50%

Showing 20 of 24 assets

Not rated — and why

3 of the 27 Privacy coins are not rated this week: 2 have no price within 7 days, 1 reports no traded volume. Each one stays on this page with its reason instead of being scored at the midpoint of a range nothing measured.

Coin	Market cap	Reason	Detail
Canton CC	$5.4B	No price this week	No traded price in the 95 days to 2026-07-31.
Verus VRSC	$30.5M	No traded volume reported	No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
Octra OCT	$29.4M	No price this week	No traded price in the 95 days to 2026-07-31.

Methodology · boundaries make the answer useful

What can make this comparison misleading?

This Privacy comparison names 5 ways its own evidence can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Coverage is also uneven — 2 of 24 assets carry enough native evidence to rank on more than price.

Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market-cap values are a dated universe snapshot, not point-in-time historical supply data.
Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight.
Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred.
Equal weighting is used for sector history because true historical market-cap weights are unavailable.

Price and technicalsThrough 2026-07-31. Five-year weekly observations benchmarked to Bitcoin.

Protocol activityThrough 2026-07-31. Fees, revenue, protocol TVL and DEX volume.

Chain activityUsers and transactions through unavailable; separately sourced chain TVL through 2026-07-25.

Market capSnapshot dated 2026-07-04; no historical supply series is implied.

Questions the page should answer directly

Crypto analysis FAQs

These 20 answers cover the questions this page can settle from data it holds — what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.

What is Privacy crypto?

Privacy crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 24 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-31.

What is the total market cap of Privacy crypto coins?

The Privacy coins on this page are tracked against a universe of 894 of the top 1,000 crypto currency assets by market cap. Market-cap metadata is dated 2026-07-04, separately from the price series, and each coin's own figure is in the table on this page.

Are Privacy crypto coins outperforming Bitcoin?

Privacy has returned +96.9% versus Bitcoin over 52 weeks and +15.3% over 13 weeks on an equal-weight current-member index. 4/23 covered assets are above their 200-day averages as of 2026-07-31.

Which Privacy asset has the strongest research score?

Zcash ranks first at 68.7/100: 32.2 + 15.0 + 10.0 + 11.5 = 68.7. It is labelled “Tape-led · on-chain proof incomplete” with 50% overall evidence and 0% native-economics evidence.

Why are some Privacy coins not rated?

3 of the 27 coins are not rated this week: 2 have no price within 7 days, 1 reports no traded volume. They stay listed with the reason beside each one rather than being scored at a neutral midpoint, because a missing reading is not a middling reading.

How is the Privacy 4-factor score calculated?

The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted.

Why can a Privacy asset be labelled tape-led?

Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets.

Does protocol revenue accrue to the token?

Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists.

Does crypto have a P/E or PEG ratio?

No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat.

How much history is shown for Privacy?

The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps.

Why do the crypto data dates differ?

Prices and technical metrics run through 2026-07-31; protocol activity through 2026-07-31; chain users and transactions through the latest available chain date; chain TVL through 2026-07-25; market capitalisation is a separate snapshot dated 2026-07-04.

Are stablecoins and wrapped tokens included in Privacy?

No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery.

Can one token appear in multiple raw crypto categories?

Yes, but public MLA pages assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Privacy therefore has one canonical membership list.

What would invalidate the current Privacy theme read?

The read weakens if the sector’s 13-week relative return versus Bitcoin falls below zero, fewer than one-third of covered assets remain above the 200-day average, and the leading asset’s native activity also contracts.

Does this page include funding rates, open interest or token unlocks?

No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price.

Which projects are generating the most network fees?

Tornado Cash leads Privacy crypto on Trailing 12-month fees at $5.5M, 21% ahead of Railgun. 2 of 3 assets with comparable change data are growing, fastest at Tezos. Coverage is 3 of the 24 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.

Which projects convert activity into protocol revenue?

Railgun leads Privacy crypto on Trailing 12-month revenue at $4.6M, 890% ahead of Tezos. 1 of 2 assets with comparable change data is growing, fastest at Tezos. Coverage is 2 of the 24 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.

Where is capital actually committed on-chain?

Tornado Cash leads Privacy crypto on Quarter-end TVL at $428.5M, 449% ahead of Railgun. 2 of 9 assets with comparable change data are growing, fastest at ZEROBASE. Coverage is 11 of the 24 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

Which Privacy project has the largest fee base?

Tornado Cash leads covered trailing-12-month fees at $5.5M. Coverage is 3/24; this is network activity, not automatically token-holder income.

Which are the biggest Privacy crypto coins by market cap?

Zcash is the largest Privacy crypto coin by market capitalisation at $7.8B, ahead of Monero at $6.2B and Litecoin at $3.4B. The 24 Privacy coins on this page carry $20B between them, with a market-cap figure on file for 24 of them. Market-cap metadata is dated 2026-07-04.