XMR vs ZEC
Monero and Zcash scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
XMR scores 117 of 250 and ranks 77th of 251. ZEC scores 101 and ranks 135th. XMR leads by 16 points, which is a real gap, though small enough that one variable moving would close much of it. XMR takes 13 of the 25 variables, ZEC takes 4, and 8 are level.
3 variables separate them by 3 points or more. XMR is clear on Insider Selling (7 against 4), Market Share (7 against 4) and Competitive Moat (8 against 5).
Both score 3 or below on Protocol Revenue, Revenue Trend, Buyback and Burn, Real Staking Yield, TVL Trend, Regulatory Safety. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
ZEC still has 19.2% of its eventual supply to enter circulation against 0% for XMR. On the same market capitalisation, a buyer of ZEC is taking the 1.24x dilution path and a buyer of XMR the 1x one.
ZEC is valued at $22.59B against $10.41B for XMR, a 2.2x difference. The smaller of the two scores higher on fundamentals, which is the disagreement worth understanding before either position is taken.
ZEC trades 58.3% below its all-time high and XMR 30.6% below its own. Recovering the high needs 2.4x from ZEC and 1.4x from XMR, which is the same statement read as the return each one has to produce.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 3 | 3 | level | |
| Revenue Trend | 3 | 3 | level | |
| P/S Multiple | 5 | 4 | XMR +1 | |
| Real Staking Yield | 2 | 2 | level |
Supply
| Supply Inflation | 5 | 5 | level | |
| Vesting Schedule | 8 | 6 | XMR +2 | |
| Circulating / FDV Ratio | 8 | 7 | XMR +1 | |
| Buyback and Burn | 2 | 2 | level |
Ownership
| Smart Money Flows | 4 | 4 | level | |
| Insider Selling | 7 | 4 | XMR +3 | |
| Holder Concentration | 5 | 4 | XMR +1 |
Traction
| TVL Trend | 3 | 2 | XMR +1 | |
| Active Users | 5 | 3 | XMR +2 | |
| Developer Activity | 6 | 5 | XMR +1 | |
| Network Growth | 4 | 3 | XMR +1 |
Position
| Market Share | 7 | 4 | XMR +3 | |
| Competitive Moat | 8 | 5 | XMR +3 | |
| Institutional Adoption | 2 | 4 | ZEC +2 | |
| Exchange Depth | 4 | 6 | ZEC +2 | |
| Social Mindshare | 5 | 4 | XMR +1 |
Risk
| Regulatory Safety | 2 | 3 | ZEC +1 | |
| Catalyst Calendar | 3 | 4 | ZEC +1 | |
| BTC Alpha Potential | 5 | 5 | level | |
| Team Execution | 6 | 4 | XMR +2 | |
| Treasury Runway | 5 | 5 | level |
Bars read outward from the centre: XMR to the left, ZEC to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| XMR | ZEC | |
|---|---|---|
| Price | $553.58 | $1,331 |
| Market cap | $10.41B | $22.59B |
| Circulating | 100% | 80.8% |
| Dilution to full supply | 1x | 1.24x |
| Off all-time high | -30.6% | -58.3% |
| To recover the high | 1.4x | 2.4x |
| Total value locked | not published | not published |
| Network | Monero | Zcash |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
XMR · WATCH
Privacy demand post-BTC ETF; pending FCMP++ hard fork, which replaces ring signatures with full-chain membership proofs
Global regulatory bans (e.g., UAE, Japan); exchange delistings reduce liquidity
ZEC · WATCH
ZEC halving reduced miner emissions; Shielding growth and the Crosslink hybrid finality work led by Shielded Labs, not the Electric Coin Company and shielded transaction growth
Regulatory delistings accelerating; most ZEC transactions are transparent not shielded; Monero preferred by privacy community; ECC funding concerns
Common questions
- Is XMR or ZEC the better investment?
- On this framework XMR scores higher: 117 against 101 of 250, and it is rated WATCH against WATCH. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and XMR still wins 13 of the 25 individual variables against ZEC.
- What is the biggest difference between XMR and ZEC?
- Insider Selling. XMR scores 7 of 10 there and ZEC scores 4, a gap of 3 points on a single variable.
- Which is bigger, XMR or ZEC?
- XMR is valued at $10.41B and ZEC at $22.59B on the latest market snapshot.
Related comparisons
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.