Zcash (ZEC) surged roughly 20% in 24 hours after Matt Huang, co-founder of Paradigm, disclosed that the firm invested in ZEC and the Zcash Open Development Lab (ZODL). The privacy-focused token, which enables shielded transactions using zero-knowledge proofs, traded around $1,338 on Thursday. ZEC has climbed 160% over the past month, significantly outperforming Bitcoin’s 18.2% gain in the same period. The rally coincides with a broader crypto market advance driven by the Federal Reserve’s decision to raise rates by 25 basis points to 3.75%-4%.
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