The privacy-focused cryptocurrency Zcash experienced a dramatic 23% surge over the past 24 hours, outperforming many major tokens as the broader cryptocurrency market climbed into the Asian morning hours on Thursday. This upward momentum coincided with a recovery in stock futures, following the Federal Reserve’s first interest-rate increase since 2023.
Zcash (ZEC) traded near $1,369 during the session, while bitcoin saw a modest increase of less than 1% to hover around $76,258. Solana (SOL) climbed nearly 3% to approach the $100 mark. Meanwhile, BNB and HYPE—the native token of the crypto trading platform Hyperliquid—both rose by more than 2%. Ether, XRP, and dogecoin also posted gains, climbing between 1% and 2%.
The sharp rise in ZEC’s value coincided with recent commentary from Matt Huang, co-founder of the prominent crypto investment firm Paradigm. In a post on X, Huang discussed Zcash’s role as a privacy-focused complement to bitcoin, while also disclosing that his firm holds a significant stake in ZEC.
Zcash enables users to transfer funds without publicly disclosing transaction details, such as the sender, recipient, or transaction amount. Recently, holders of the token voted to support proposals aimed at accelerating payment speeds while maintaining scheduled reductions in the issuance of new coins—a deflationary mechanism similar to bitcoin’s.
Huang described Zcash as a “private complement to Bitcoin,” emphasizing its unique value proposition within the ecosystem. He expressed support for ongoing developer funding, while suggesting that holder voting should be integrated with alternative governance structures to guide future network upgrades.