Top Crypto Gainers Today, October 9 – Zcash, Mantle, Ethena

Highlights:

• Privacy-focused Zcash leads the list of top crypto gainers today, spurred by the privacy hype and new institutional support.
• Mantle strikes a new all-time high, riding the wave of tokenization hype and big-name partnerships.
• Ethena claws back from a slump as new stablecoin plans stir up fresh interest from investors.

The crypto market has already soared to new highs, with Bitcoin breaking the previous ATH after reaching $126,080 this October. However, a pullback has been noted in the market this week, leading to price corrections. In the section below, we will cover the top crypto gainers today, such as Zcash, Mantle, and Ethena, which are defying the current market correction.

Top Crypto Gainers Today

1. Zcash (ZEC)

Zcash is leading the list of top crypto gainers of the day after recording a 36% gain in the past 24 hours. This bullish momentum saw ZEC’s price rally from lows of $130 to $185, the highest price since April 2022. However, the altcoin has experienced a slight pullback, currently trading at $178. Over the past 30 days, the altcoin has surged by over 250%, pushing its market cap to $2.95 billion.

Cryptocurrencies that prioritize privacy are experiencing a resurgence due to growing concerns about blockchain surveillance and state surveillance. Zcash, specifically, has risen amid new debates on the topic of digital anonymity. X mentions of ZEC shot up by more than 1,000%, and the trading volume surpassed $1 billion this week.

Influential opinions, such as those of Naval Ravikant, suggest that Zcash insurance against Bitcoin adds to the broader debate. Additionally, the position is further enhanced by institutional participation. Grayscale has raised slightly over $46 million into its Zcash Trust since early October, increasing liquidity and indicating a higher level of trust in traditional finance.

Bitcoin is insurance against fiat.

ZCash is insurance against Bitcoin. https://t.co/rqMrR3bW7O

— Naval (@naval) October 1, 2025

2. Mantle (MNT)

Mantle has also printed double-digit gains today, pushing the price to a new all-time high. The latest rally of 15% has propelled the asset into the list of top crypto gainers today. Moreover, the rally has elevated the weekly and monthly gains to 40% and 120%, respectively. Currently, MNT is trading at $2.64 with a trading volume of $830 million.

The rise of Mantle has been linked to recent changes. This consists of its Token2049 introduction of a compliance-based “Tokenization-as-a-Service platform. The shift has drawn institutional interest, with companies pursuing more than $16 trillion in real-world asset prospects. Through the combination of compliance, audits, and licensing under a single framework, Mantle is establishing itself as a viable path to on-chain adoption of assets.

"Bringing TradFi on blockchain rails with Tokenization as a Service (TaaS)"

All on Mantle Network. pic.twitter.com/mOClefnB5m

— Mantle (@Mantle_Official) October 3, 2025

Also, the project’s partnerships have made it more visible. The introduction of the USD1 stablecoin with World Liberty Financial and the deeper integration with Bybit have fueled the trading activity. The $11.7 billion September volume recorded by Mantle was a record, highlighting good retail and institutional activity.

3. Ethena (ENA)

After a 30% decline over the past 30 days, Ethena is trading on a positive note today. Ethena is trading around $0.562 with a surge of 6% on the daily chart. The price has bounced off its immediate support at $0.53 and looks to challenge the nearest resistance at $0.60. While its market cap has surged to $4.05 billion, its trading volume has dropped to $365 million, indicating decreased market activity.

Recently, Ethana and Jupiter announced that they are working to introduce a new Solana-based stablecoin called JupUSD. It will be launched in mid-Q4 2025 and is planned to be integrated within Jupiter’s ecosystem. Solana will enable trading, lending, and futures with the use of the stablecoin.

Introducing JupUSD: the native stablecoin of the @JupiterExchange ecosystem built on Ethena's Stablecoin-as-a-Service stack.

JupUSD will plug into every major part of the Jupiter stack, including:

– Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be… pic.twitter.com/jlNLc2eNCz

— Ethena Labs (@ethena_labs) October 8, 2025

Over time, Jupiter aims to transfer approximately $750 million in USDC liquidity to JupUSD. The token will be entirely supported by USDtb of Ethena, which will be pegged to short-term U.S. Treasuries. Later, the collateral mix will be added with the USDe synthetic dollar of Ethena to increase the efficiency of yield.