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Bitcoin Was Nearly Flat as Zcash and Monero Rose: What the October 2026 Snapshot Shows

By Freedom251 Team · · 6 min read

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Bitcoin was not literally asleep on October 6, 2026: it gained 0.59% over 24 hours. But it and Ethereum were nearly flat compared with Zcash and Monero, which were among the strongest large-cap performers in Decrypt’s CoinGecko-based market snapshot. That one-day contrast sits within a larger, volatile privacy-coin rally—but it does not show that the rally will continue or that either coin is a dependable hedge.

What moved on October 6—and what “asleep” leaves out

Decrypt’s October 6, 2026 report, using CoinGecko market data, put Bitcoin at $86,264.06, up 0.59% over the previous 24 hours, and Ethereum at $2,714.39, up 0.34%. In the same snapshot, Monero (XMR) was $562.32, up 2.14%, while Zcash (ZEC) was up about 3% according to the report’s prose.

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Asset October 6, 2026 snapshot Recent high cited by Decrypt
Bitcoin (BTC) $86,264.06; up 0.59% over 24 hours No recent high comparison stated
Ethereum (ETH) $2,714.39; up 0.34% over 24 hours No recent high comparison stated
Zcash (ZEC) Up about 3% over 24 hours; an exact price was not stated in the report’s prose About 19% below a late-September peak of $1,698
Monero (XMR) $562.32; up 2.14% over 24 hours About 11% below its September high of $632.86

These are historical figures from that report, not live quotes. Decrypt described ZEC and XMR as consolidating rather than breaking out, while also discussing bullish technical momentum in Bitcoin. Its chart levels and technical interpretation are the article author’s market analysis, not protocol facts or a forecast.

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Was the privacy-coin rally broader than one day?

Yes, according to a wider—but still dated—comparison. Bitfinex reported on September 11, 2026, that Glassnode data published September 7 showed a privacy-coin basket had gained 90% in the preceding month and more than tripled since Bitcoin’s October 2025 peak. The reported combined market value rose from $7.1 billion to $33.6 billion over a year.

Those basket figures are Glassnode’s as relayed by Bitfinex; they are not an independently verified measure here, and the original basket methodology is not established by the cited account. Bitfinex said ZEC made up more than 60% of the basket’s market capitalization and had risen more than 25-fold over the year. Excluding ZEC, it said, the basket was up 85%. The concentration matters: the headline sector gain was not a uniform rise across all assets in the category.

Bitfinex also reported that 91.5% of the top 200 crypto assets rose over the 30 days before its September 11 article, while only 25 were above their year-earlier prices. That broader market context is a reason not to treat privacy-specific demand as the only possible explanation for the reported gains.

What may have helped Zcash—and what the evidence does not prove

ZCSH’s launch and changing fund flows

Bitfinex reported that Grayscale’s Zcash Trust began trading on NYSE Arca under the ticker ZCSH on August 25, 2026. Grayscale characterized it as the first exchange-traded product offering spot exposure to ZEC. The trust began as a private placement in October 2017, according to the same account.

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Bitfinex reported more than $34 million in net inflows during the product’s first two weeks, including $12.6 million on September 2. Decrypt later reported $30.25 million in outflows on September 30, but about $268 million in net inflows since launch as of its October 6 article. These figures cover different periods and show why a flow number needs a date: money can enter and leave, and fund flows alone do not establish what caused a token’s price to move.

A holder vote and a rally that followed

Decrypt reported that a September 17 coinholder vote saw 98.9% support for keeping Bitcoin-style halvings. Its account linked the vote and ZCSH’s launch to ZEC’s rise from a reported $480.72 base to the late-September high of $1,698. That is a reported interpretation of events occurring around the rally, not proof that either event caused it.

What may explain Monero’s strength

As of September 2026, Bitfinex said XMR had roughly doubled over the preceding year but remained below a January high. Citing TRM Labs, the article also said Monero transaction volumes in 2024 and 2025 ran above 2020–2021 levels despite restrictions on some venues. This is a secondary account of historical activity, not a real-time measure of use or a direct explanation for the October 6 price move.

Bitfinex raised concern about financial surveillance and a broader rotation across crypto assets as possible context for rising interest in privacy coins. Those are plausible narratives, not established causal mechanisms for Monero’s or Zcash’s price changes. Grayscale executive Steve Vanourny, quoted by Bitfinex from the ZCSH launch release, said: “As AI reshapes how financial activity can be monitored, we believe demand for genuine financial privacy will only grow.” That is an executive’s outlook, not a verified forecast.

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How Zcash and Monero privacy differ

They are not interchangeable privacy tools. Zcash supports both transparent transactions and shielded transactions; Monero’s protocol is designed to make privacy the default for ordinary network transactions. Neither description means that every user’s activity is impossible to trace in every circumstance.

Question Zcash (ZEC) Monero (XMR)
Is privacy optional or default? Both transparent and shielded transaction paths are available. A transaction is not shielded merely because it uses ZEC. Privacy features are built into ordinary transactions; there is no transparent transaction option described by Bitfinex.
What does the protocol hide? Shielded transactions use zero-knowledge proofs to conceal sender, recipient, and amount from public view while allowing network validation. Stealth addresses create one-time destinations, ring signatures make it difficult for an outside observer to identify which possible signer authorized an output, and RingCT hides amounts.
What remains visible? Zcash documentation says shielded addresses and values are not publicly visible, but transaction fees remain visible. Transparent transactions expose information differently. Privacy is the protocol design, but user behavior, endpoints, wallet practices, or exchange records can still reveal information outside the transaction’s on-chain privacy mechanisms.
Selective disclosure Viewing-key concepts can support disclosure, but capabilities depend on address type and software. Zcash’s address documentation notes limitations for Sapling viewing-key support. Bitfinex describes no general viewing key. Do not assume Monero offers the same selective-disclosure model as Zcash.
Supply context A 2026 CFTC-filed disclosure states a maximum supply of 21 million ZEC. A directly comparable maximum-supply figure was not stated in the cited materials.

Zcash’s technical documentation is the relevant source for shielded-address visibility and fee disclosure; the Monero Project’s documentation describes its stealth-address and ring-signature mechanisms. The CFTC-filed Zcash disclosure supplies protocol background, while the project documentation is the stronger basis for explaining how the privacy features work.

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Privacy design is not the same as access or investment quality

A protocol’s privacy model answers what transaction details are intended to be visible on-chain. It does not tell a reader whether the asset is easy to buy, sell, hold, or use in a particular location. Bitfinex reported that Monero’s exchange availability had been reduced in some jurisdictions; listings and restrictions vary by venue and can change. Verify local rules and the current status of a specific exchange before relying on access to either asset.

Wallet support and user choices also matter, especially for Zcash, where transparent and shielded paths coexist. A comparison should therefore consider default privacy, public transaction data, wallet support, selective-disclosure needs, exchange access, liquidity, market value, and volatility—not just a recent price chart. A strong performance period cannot establish which protocol is “better” for a particular use.

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How to read the price story without overreading it

  • Separate time windows. Decrypt’s October 6 figures are a 24-hour snapshot; Bitfinex’s September figures describe one-month and one-year comparisons.
  • Keep event timing distinct from causation. ZCSH’s launch, the ZEC holder vote, reported fund flows, and prices changed during overlapping periods, but temporal overlap does not prove one caused another.
  • Watch the concentration. Bitfinex’s reported basket had more than 60% of its market capitalization in ZEC, so its aggregate performance can be heavily influenced by one coin.
  • Do not treat privacy as a price thesis. Protocol characteristics, real-world demand, venue access, and token prices are related questions, but none by itself guarantees future performance.

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BitcoinCryptocurrency marketsMoneroprivacy coinsZcash

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