Paradigm Investment Boosts Zcash Price by 20% Amid Broader Crypto Gains
Zcash's price has surged by over 20% in the past 24 hours after Paradigm co-founder Matt Huang revealed that his firm made an investment in the ZEC token.
Huang stated that Paradigm is both a holder of ZEC and an investor in the Zcash Open Development Lab (ZODL), which was already public information from a March seed round of over $25 million. He 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.
Today's rise extends ZEC's one-month increase to around 160%, significantly outperforming Bitcoin's 18.2% gain in the same period, according to Coingecko data. The broader crypto market has also advanced following the Federal Reserve's rate hike, with privacy coins substantially outperforming the wider market.