Monero (XMR) remains the top privacy token by market capitalization in 2025, followed by Zcash (ZEC), Beldex, Decred, Dash, Horizen (ZEN), Secret (SCRT), and Firo. These tokens employ advanced cryptographic techniques to ensure transaction privacy, including ring signatures and zero-knowledge proofs. Despite their technological innovations, privacy tokens face significant regulatory challenges. Concerns over money laundering and tax evasion have led to delistings and increased compliance pressures. Monero's full anonymity attracts more scrutiny compared to Zcash, which offers optional privacy features. The future of these tokens hinges on evolving regulatory landscapes and their potential integration with DeFi and layer-2 solutions.