Monero Hits New All-Time High as Privacy Coins Lead Crypto Market Rally

Monero (XMR) surged to a new all-time high, trading near $579 by midday Hong Kong time, as privacy-focused cryptocurrencies led a sharp rally across the broader digital asset market. The XMR price breakout capped a steady multi-month uptrend that accelerated dramatically over the past 24 hours, with Monero gaining more than 20% on the day and significantly outperforming both Bitcoin (BTC) and Ethereum (ETH).

The strong performance in Monero triggered renewed interest in privacy coins, with Zcash (ZEC) and other privacy-adjacent tokens such as Canton also posting notable gains. These assets have been trending higher since late December, supported by improving liquidity conditions and traders rotating into higher beta altcoins as risk appetite returned after the holiday period.

According to analysts at 10x Research, Monero has benefited from a renewed focus on crypto privacy narratives and growing anticipation around upcoming protocol upgrades. These factors have helped reignite demand for XMR despite ongoing regulatory uncertainty surrounding privacy-focused cryptocurrencies. Meanwhile, Solana (SOL) rose roughly 5% over the same period, keeping pace with the broader altcoin rally but struggling to break above key resistance levels, highlighting a divergence between strong narratives and near-term price conviction.

The rally in altcoins has unfolded against a backdrop of political noise surrounding U.S. monetary policy. Prediction markets continue to assign low odds to Federal Reserve Chair Jerome Powell being removed ahead of the end of his term, suggesting traders view recent headlines as political posturing rather than a real threat to monetary policy stability.

Bitcoin remained largely range-bound near $91,000, reinforcing a familiar market dynamic where altcoins rally on rotation and positioning rather than a decisive BTC breakout. Market maker Flowdesk noted that suppressed funding rates through December set the stage for short covering and aggressive moves in mid- to large-cap tokens like XMR, ZEC, and SOL once liquidity returned.

With bitcoin increasingly driven by ETF flows and lacking a clear macro catalyst, traders appear more willing to chase relative value and thematic plays such as privacy coins. For now, Monero’s all-time high underscores a market environment focused on selective risk-taking rather than broad-based conviction.