Zcash gains 20% as Paradigm founder reveals firm made ZEC investment
Zcash rose about 20% in 24 hours as Paradigm co-founder Matt Huang disclosed that the firm invested in ZEC amid a broader crypto market rally.
Zcash rose about 20% in 24 hours as Paradigm co-founder Matt Huang disclosed that the firm invested in ZEC amid a broader crypto market rally.
Zcash gained about 20% over the past 24 hours as Paradigm co-founder Matt Huang disclosed that the crypto investment firm made an unspecified purchase of ZEC, the privacy-focused token that has been outperforming a broader rise across crypto markets.
Zcash (ZEC), a cryptocurrency that enables users to make shielded transactions that conceal addresses and transaction amounts using zero-knowledge proofs, traded around $1,338 at last look on Thursday. Its surge came in the wake of Huang’s Wednesday post revealing that Paradigm is an investor in the Zcash Open Development Lab (ZODL) as well as a ZEC token holder.
Huang described Zcash as a “private complement to Bitcoin” and backed its inflation-funded developer fund, arguing that long-term funding remains important as AI-driven cyber capabilities and quantum computing advance. He also said he supported combining Zcash coin voting with other forms of governance to reduce unpredictability as a monetary asset.