The broader crypto market reversed most of its earlier gains in 2025, but privacy coins, led by Zcash [ZEC], dominated the narrative throughout the second half of the year.
According to asset manager Grayscale, the top 20 performers in Q4 were privacy coins, including ZEC, Monero [XMR], Dash [DASH], and others.
Beyond investor gains, ZEC and privacy coins also dominated in social mindshare, noted Grayscale.
Source: Grayscale
In Q4, ZEC posted gains of over 600%, followed by DASH at 218%. XMR saw a 48% rally over the same period.
For most experts, including partners at a renowned venture capital firm, a16z, privacy will be the ‘most important moat in crypto.’ If the narrative extends into 2026, then ZEC could extend its gains.
Can ZEC hit $1000?
Worth pointing out, however, that ZEC’s gains were not that smooth and were one of the most volatile crypto assets in Q4.
After exploding over 1000% in October and tagging a record high of $751, the coin slumped by half to $320 by early December.
At press time, it had reversed some losses and traded at $539, about 35% away from its all-time high (ATH).
Source: ZEC/USDT, TradingView
But can it double from here and cross $1000? According to a pseudonymous analyst, Anonymist, the target was reachable ahead of an inevitable supply squeeze.
The user stated that, out of the current ZEC circulation of 16 million coins, about 5 million are shielded and may not be freely available for trading. That would leave 10 million ZEC for the market. He added,
Source: X/Anonymist
However, at the time of writing, prediction site Polymarket was pricing a 30% chance that Zcash could hit $1,000.
In fact, according to CoinGlass data, 70% of Binance’s top traders were shorting the asset, underscoring bearish sentiment amongst some players.
Still, a growing accumulation in the spot markets could drive the Zcash recovery in the near term.
Final Thoughts
- The privacy segment was the most volatile and the top-performing narrative in Q4 2025, led by Zcash.
- Analyst projected that Zcash could double to $1000, citing a pending supply squeeze.
Source: https://ambcrypto.com/zcash-leads-q4-privacy-rally-analyst-foresees-zec-at-1000/


