Privacy coins performed exceptionally well in 2025, with the entire year's gains being astonishing. Even more interesting is that they continued to rise during market downturns, which is clearly not a coincidence.

Looking back at history, we find that privacy coins often move independently during periods of market sentiment apathy. Why is that? The key lies in the underlying attributes of privacy coins—they are not inherently bullish assets.

In simple terms, the reason privacy coins are being re-evaluated by traders is precisely due to subtle shifts in market sentiment. When investors begin to doubt "whether rules are always friendly" or "whether the existing order is stable," the demand for privacy, sovereignty, and asset protection is activated. This is a risk hedging logic—when traditional trust systems are questioned, assets with privacy features become a safe haven choice.

The strong performance of privacy coins this time actually reflects deeper changes in market expectations.