The privacy coin Monero (XMR) has vaulted dramatically up the cryptocurrency rankings

Monero's market cap now stands at about $7.5 billion, just ahead of Toncoin ($7.48 billion) and Litecoin ($7.35 billion), per data from CoinGecko.

Monero (XMR), the privacy-focused cryptocurrency, has risen dramatically in the cryptocurrency rankings, overtaking both Litecoin (LTC) and Toncoin (TON) to claim a spot among the top 25 digital assets by market capitalization.

Now valued at approximately $7.5 billion, Monero is closely followed by Toncoin with $7.48 billion and Litecoin with $7.35 billion, according to data from CoinGecko. This surge occurs as XMR has more than doubled in price this year, crossing the $400 threshold for the first time since early 2021.

The cryptocurrency market has seen a rally this year, driven more by Ether and several altcoins, while Bitcoin remains below $30,000. However, several tokens, including Monero, have seen substantial gains, demonstrating renewed investor interest and the market’s shifting focus. After a period of suppression due to U.S. law enforcement agencies’ interest in cryptocurrency regulation, Monero is slowly regaining visibility.

Monero’s rapid return to form this year also highlights the growing interest in anonymous and censorship-resistant digital assets. As the cryptocurrency market matures, regulatory frameworks are becoming clearer, and some exchanges may be considering readmitting Monero.

Monero has faced periodic deplatforming over the last few years. U.S. law enforcement agencies have a strong interest in regulation and see privacy coins as a problem. But as the cryptocurrency market at large matures, regulatory frameworks are becoming clearer, and some exchanges may be considering readmitting Monero.

Meanwhile, Litecoin and Toncoin have struggled to maintain their pace.

Litecoin, sometimes called “digital silver” to Bitcoin’s “digital gold,” has seen its price fall 6% this year, now trading below the $100 level. Despite a strong historical legacy and a loyal community, Litecoin has lost some relevance in the broader crypto space due to limited development activity and a lack of new compelling features, making it unable to keep up with other altcoins in a market increasingly driven by utility and innovation.

The Open Network (TON), with its native token Toncoin, has had a mixed year. Though strongly linked to Telegram’s vast user base, the token has seen a 25% price drop in 2025, indicating investors’ concerns over the platform’s adoption. Even if adopted, will it succeed economically? For a token holder, that’s the crucial question.

A pair of technical and speculative aspects are driving this development. Technically, Monero is working on what is rumored to be its largest upgrade to date, revamping its already advanced cryptographic privacy features. Speculatively, crypto enthusiasts are seeking investment opportunities in a bear market, and privacy coins seem promising.

However, a triple threat of technical issues, speculative rumors, and a U.S.-led crackdown on cryptocurrencies earlier this year have seen the price of ether drop by 30% since the beginning of 2025.