Private DeFi, measured.

Daily total value locked across 26 counted protocols, from DefiLlama. Tornado Cash is excluded by default because it holds most of the total and its value moves mainly with the ETH price. The daily line ends on 14 Nov 2026, the newest day with a daily reading of every protocol still reporting; its last point is the sum of the hourly readings of 15 Nov 2026, 03:12 UTC, as in the figure above. The 14 numbered flags on the baseline mark the timeline's entries on the launches and closures of protocols counted in this total, the US sanctions on Tornado Cash and their removal, and the arrests and convictions of its developers; hover over or select one for its date and title, or open the list below.

All tracked protocols

Each protocol counted in the headline figure, drawn with an area in proportion to its TVL: $204.7M across 17 protocols on 15 Nov 2026, 03:12 UTC. Tornado Cash ($601.0M) is left out, as in the headline figure, since it holds most of the total and its value moves mainly with the ETH price. The 10 protocols under 0.4% of the total share a cell with the others of their type. Six protocols with less than $1K are not drawn. Types are PriFi.info's own classification (how it works). TVL from DefiLlama, refreshed hourly.

Every protocol, with its chains and status

The change in each protocol's TVL over the 30 days to 15 Nov 2026, 03:12 UTC, in US dollars, with the percentage: the three largest rises and the five largest falls, each bar from zero. Rises and falls are drawn on scales of their own, written under each: the largest rise is $122K and the largest fall $39.6M, so on one scale the rises would barely show. Together the 21 protocols with a month of history lost $52.5M, -20.4%; the 13 not drawn here are in the table under the bars. Tornado Cash is left out, as in the headline figure; a protocol with less than a week of history before the 30 days has no change. TVL from DefiLlama.

The 7 and 30 day changes of every protocol

The change in each protocol's TVL over the 30 days to 14 Nov 2026, the newest day with a reading of every protocol still reporting, split token by token from DefiLlama's daily token balances: the change in a token's amount, valued at its price on the opening day (15 Oct 2026), is net deposits; the rest, the change in its price on the opening amount plus the cross term (the change in amount times the change in price), is prices, so the two add up to the change. A token's price is its dollar value over its amount, so the yield of a vault share counts as price. The bars are percentages of each one's TVL on the opening day, on one scale from -30% to +30%; the figures are US dollars. In all, the 23 counted protocols with token detail lost $36.1M: deposits and withdrawals made 54% of it. Tornado Cash is left out, as in the headline figure; these are daily figures, so they differ a little from the hourly ones above.

Combined market cap of the privacy-coin basket. Daily history from Coin Metrics Community Data; the current value from DefiLlama. The line's last point is the current value, read at 15 Nov 2026, 03:09 UTC.

ZEC held in all shielded pools (Sprout, Sapling, Orchard and Ironwood), and its share of total supply. History from zeczcash.com; live value from ZecStats. The line's last point is the live value, read at 15 Nov 2026, 03:09 UTC.

Private DeFi TVL (excluding Tornado Cash) divided by the privacy-asset float. A ratio of two separate measures: it shows how much value sits in private DeFi relative to the value of privacy coins. The line's last point is the current TVL over the current float, dated by the newer of the two readings, 15 Nov 2026, 03:12 UTC.

The basket

Coins in CoinGecko's Privacy Coins category that have protocol-level transaction privacy and a market cap above $15M at the last review. Reviewed quarterly.

Where the seven coins trade, and the rules on them

Private DeFi TVL as a percentage of all DeFi TVL, excluding Tornado Cash unless the box is ticked. The denominator is DefiLlama's total DeFi TVL across all chains, which leaves out liquid staking and double-counted value: $69.58B at the latest reading (15 Nov 2026, 02:38 UTC), refreshed hourly. The line's last point is the current share, dated by the older of its two readings, 15 Nov 2026, 02:38 UTC. Data: DefiLlama.

How each headline figure is counted

• 0.003% of all DEX volume went through private venues on 14 Nov 2026
• 0.009% over the 30 days to then
• $22.1M in those 30 days

Swap volume through private venues by calendar month, the last 12 complete months: Railgun's private swaps on four chains, Shield Swap, Renegade and Penumbra's DEX; each month's share of all DEX volume is in its tip. On 14 Nov 2026 it was $327K of the $9.48B that DefiLlama counted across all DEXs. Last day with volume: Renegade 20 Apr 2026; Penumbra DEX 25 Jun 2025. Railgun from its indexers, priced with DefiLlama; the other venues and the total from DefiLlama. By venue, with what it measures and its limits. Data: DefiLlama.

Private DEX volume by venue

1. 13 Nov 2026OtherAztec genesis sequencer tokens can be withdrawn
2. 6 Nov 2026UpgradeZcash's NU7 upgrade activates on mainnet, with 25-second blocks
3. 6 Nov 2026RegulationBrazil bars regulated institutions from dealing with unauthorised virtual asset providers
4. 4 Nov 2026OtherPrivacy Cash pauses deposits after proceeds of the Binance theft reach its pools
5. 4 Nov 2026RegulationKenya's one-year compliance deadline for virtual asset service providers