Zcash’s big win: Monero falls, Bitcoin next?

November 03, 2025

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Privacy coins rise again: Zcash tops Monero, eyes Bitcoin’s throne

Key points:

  • Zcash’s market cap briefly surpassed Monero’s, hitting $7.2 billion amid a 1,000% three-month rally fueled by privacy demand and institutional interest.

  • Analysts say Zcash’s zk-SNARK-based privacy and Bitcoin-like supply make it a leading “encrypted Bitcoin” contender.

News - Zcash (ZEC) has emerged as the unexpected leader of the current “privacy season,” overtaking Monero (XMR) to become the most valuable privacy coin for several hours over the weekend. Its market capitalization climbed as high as $7.2 billion, outpacing Monero’s $6.3 billion, as trading volumes surged and price momentum accelerated.

The rally comes as privacy coins outperform a sluggish broader market. According to CoinGecko, the sector’s total market cap rose about 80% over the past week to nearly $24 billion, signaling renewed investor demand for financial anonymity.

Analysts attribute ZEC’s outperformance to its November halving, institutional adoption potential, and public endorsements from prominent figures such as Arthur Hayes, who has forecasted a $10,000 ZEC target.

Zcash’s architecture mirrors Bitcoin’s 21-million-coin cap and halving model but integrates zk-SNARK-powered privacy, allowing users to conceal sender, receiver, and transaction amounts.

Experts including Edward Snowden and Thor Torrens argue Bitcoin’s lack of built-in privacy may limit its future, while Zcash represents the privacy-preserving digital cash envisioned in Bitcoin’s early ethos.

The privacy-coin power shift - Zcash’s flexibility between transparent and shielded transactions has made it more palatable to regulators compared to Monero, which remains delisted from major Western exchanges. This optional privacy feature, along with the Zashi CrossPay protocol for cross-chain payments, is positioning Zcash as a bridge between compliance and confidentiality.

A new ideological chapter - As privacy coins regain prominence, Zcash is being framed not just as a trade but as a statement on digital freedom. Whether it can dethrone Bitcoin remains uncertain, but its resurgence signals a shift toward a more privacy-centric crypto future.

XRP’s double play: ETF hype meets institutional expansion amid price strain

Key points:

  • ETF issuers expect up to $5 billion in inflows as multiple spot XRP funds prepare to launch under a more crypto-friendly SEC.

  • Ripple expanded its U.S. institutional reach with Ripple Prime, a new spot brokerage offering OTC trading and cross-margin access for XRP and RLUSD.

News - The arrival of spot XRP exchange-traded funds is generating strong anticipation among traders and issuers alike.

Executives from firms including Bitwise and Canary Capital predict combined inflows of up to $5 billion in the first month after launch, positioning XRP as the next major altcoin to attract institutional capital following Bitcoin and Solana ETFs.

This surge in optimism comes as the U.S. Securities and Exchange Commission (SEC), now led by Chair Paul Atkins, adopts a more pro-crypto approach that has accelerated ETF approvals to as little as 75 days. Analysts expect over 100 crypto ETFs to enter the market in the next year, reflecting renewed regulatory openness to digital assets.

Parallel to this development, Ripple has launched Ripple Prime, a digital asset prime brokerage offering OTC spot trading for major cryptocurrencies, including XRP and the RLUSD stablecoin.

The platform allows U.S. institutions to cross-margin spot, swaps, and futures positions under a unified infrastructure, following Ripple’s recent acquisition of Hidden Road.

Market pressure persists - Despite the excitement, XRP’s price momentum remains weak. The token has faced repeated rejections at $2.55 and hovers near $2.49 support amid profit-taking by short-term holders.

On-chain data shows rising selling pressure, while technical charts flag a bearish divergence unless XRP reclaims $2.64 on a daily close.

Institutional sentiment builds - Ripple’s dual push, ETF momentum and Prime expansion, has strengthened its long-term narrative, but traders remain cautious as near-term volatility shapes the asset’s next move.

Trump’s CZ pardon sparks $2 billion Binance probe and Senate uproar

Key points:

  • President Trump defended his pardon of Binance founder CZ, denying any personal connection and calling the prosecution a “Biden witch hunt.”

  • Lawmakers led by Elizabeth Warren are demanding a federal probe into a $2 billion Binance–Trump family deal tied to the World Liberty Financial stablecoin.

News - President Donald Trump’s decision to pardon Binance founder Changpeng “CZ” Zhao has triggered a wave of political backlash in Washington. During a 60 Minutes interview, Trump said he “didn’t know” Zhao and described his conviction as part of a “Biden witch hunt,” insisting the pardon was meant to “make crypto great for America.”

Zhao’s 2023 conviction stemmed from Binance’s failure to maintain anti–money laundering controls, leading to a $4.3 billion company fine and a four-month prison sentence for Zhao.

While the pardon restored his civil rights, critics argue it raises serious ethical concerns after reports surfaced of a $2 billion partnership between Binance and Trump-linked World Liberty Financial (WLFI).

According to congressional investigators, Binance helped launch WLFI’s USD1 stablecoin, which attracted foreign investment weeks before the pardon. Lawmakers say the timing suggests potential conflicts of interest involving Trump-affiliated entities and pro-stablecoin policies.

Senate calls for investigation - Seven Democratic senators, including Elizabeth Warren and Bernie Sanders, have called for a federal probe into what they describe as an “abuse of executive power.”

Warren’s resolution condemns the pardon as a threat to financial integrity and public trust, though Senate Republicans have blocked its passage so far.

Legal battle escalates - Warren’s corruption claims have now sparked legal retaliation. CZ’s attorney threatened to sue her for defamation, but Warren’s counsel dismissed the threat as baseless, citing publicly verified facts about Zhao’s conviction and Binance’s ties to WLFI.

Balancer breach drains $128 million, team offers bounty to recover funds

Key points:

  • DeFi protocol Balancer suffered its largest exploit to date, with over $128 million in staked ETH and related tokens drained across multiple chains.

  • The team has launched a 20% white-hat bounty and is working with investigators as the attack ripples through connected projects.

News - Balancer has confirmed a major security breach affecting its version 2 (V2) vaults, resulting in more than $128 million in losses. Blockchain data from Lookonchain and Nansen showed the attacker siphoned 6,851 osETH, 6,587 WETH, and 4,260 wstETH from Balancer pools before consolidating the assets into new wallets.

Security firm Decurity traced the incident to a faulty access-control check in the manageUserBalance function, which allowed unauthorized withdrawals through the WITHDRAW_INTERNAL operation. The flaw enabled attackers to drain funds without proper permissions.

The exploit affected vaults on Ethereum, Sonic, Polygon, and Base networks. Beets Finance, a Balancer-based fork, confirmed a $3 million loss from the same vulnerability. Balancer’s BAL token fell more than 5% following the breach.

Balancer responds with bounty - In a blockchain message, the Balancer team said it is offering up to 20% of the stolen funds as a white-hat reward if the remainder is returned immediately. If not, the project will continue cooperating with law enforcement and blockchain-forensics partners to identify the attacker.

DeFi security on alert - The breach marks Balancer’s third major incident, following hacks in 2020 and 2023. Despite undergoing more than 10 audits, the latest exploit highlights lingering risks in DeFi infrastructure.

Analysts warn that the attack, which comes after a month of declining crypto-theft activity, could signal a renewed wave of exploits targeting cross-chain liquidity platforms.

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Did you know?

  • Crypto market volatility returned in force during August 2025 as Ethereum saw net inflows surge, while Bitcoin dominance slipped and tokens of centralised exchanges (CEXs) like OKB and CRO led gains, a notable shift in market leadership dynamics.

  • According to a 2025 survey, nearly 1 in 4 (24%) of respondents in key markets reported owning crypto, with memecoins serving as many users’ entry point into crypto.

  • In October 2025, crypto hacks dropped by approximately 85%, with only about $18 million lost, making it the safest month of the year so far.

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Top 3 coins of the day

OFFICIAL TRUMP (TRUMP)

Key points:

  • TRUMP was last seen near $7.68, up about 1.6% on the day.

  • The 20 MA stayed below the 50 MA, while the AO held above zero with the latest bar in red.

What you should know:

TRUMP cooled after last week’s pop but held most gains as intraday trade stayed within $7.33 to $8.00. The fast average remained below the slow one, so the broader trend still read as a recovery within a developing base rather than a confirmed bullish trend. AO stayed positive, yet the latest red bar signaled fading upside momentum. Volume stepped down from the breakout spike while remaining higher than the pre-October baseline, showing interest persisted. The $8.80 to $9.00 zone is the resistance to monitor. $7.20 (50 MA) and $6.62 (20 MA) are support references. On catalysts, ongoing talks to acquire Republic’s U.S. operations supported a utility narrative around the token, while the recent Fed rate cut aided risk appetite across crypto. A firm close above $9 would improve the upside case; repeated closes below $7.20 would weaken it.

Key points:

  • XRP was last seen around $2.41, down about 4.5% over 24 hours.

  • Price sat below the 9-SMA while RSI hovered near 42, and volume increased on the decline.

What you should know:

XRP slipped after failing to sustain above $2.50 and finished the session under its 9-SMA, keeping near-term momentum soft. RSI sat in the low-40s, which indicated pressure but did not show an extreme read. Turnover rose versus recent sessions, suggesting sellers retained control during the drop. $2.54 at the 9-SMA and the $2.60–$2.65 band are the resistance areas to watch. $2.30 remains the first nearby support. On the non-technical side, reports of a long-liquidation burst likely accelerated the move, while Ripple’s institutional Prime launch added a parallel narrative that traders weighed against the short-term weakness. A decisive close back above the 9-SMA would improve momentum, while consistent closes below $2.30 would keep downside risk elevated.

Ethereum (ETH)

Key points:

  • ETH traded around $3,725 after sliding nearly 4.7% over the past 24 hours.

  • The price hovered below the Bollinger midline, with the Squeeze Momentum histogram deep in red and volume ticking higher.

What you should know:

Ethereum weakened after sellers pushed it beneath $3,800, forcing the price toward the lower Bollinger Band and keeping short-term bias negative. The Squeeze Momentum Indicator remained below zero, highlighting continued bearish control even as volatility compressed. Volume rose slightly, suggesting stronger follow-through on the downside. The $3,920–$3,950 area near the Bollinger midline now serves as immediate resistance, while $3,700 is the key support to monitor for a possible bounce. Broader market sentiment also weighed on ETH as Bitcoin-led declines and a wave of long-liquidation pressure intensified the drop. Sustained closes under $3,700 may expose $3,600 next, while a reclaim of the midline could help stabilize momentum.

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