Zcash (ZEC) jumped 23% in the past 24 hours while Bitcoin (BTC) edged higher to about $76,258 on Thursday, defying the Federal Reserve’s first interest-rate increase since 2023. Gains extended across major cryptocurrencies as stock futures recovered, pointing to resilient risk appetite despite tighter policy.
Price action was broadly positive into Asian morning hours. Solana (SOL) gained nearly 3% to just below $100. Binance Coin (BNB) and Hyperliquid’s HYPE token added more than 2%, while ether (ETH), XRP and dogecoin (DOGE) advanced between 1% and 2%.
Why did Zcash surge 23% while Bitcoin barely moved?
Zcash rallied as crypto prices firmed following the Fed’s rate hike and a rebound in stock futures. The move also coincided with public comments from Paradigm co-founder Matt Huang, who discussed Zcash’s role as a privacy complement to Bitcoin and disclosed that his firm owns ZEC in a post on X.
While Bitcoin’s rise was modest—less than 1% to roughly $76,258—market breadth favored altcoins, with ZEC leading performance. Zcash is a privacy-focused cryptocurrency, and interest in its design may have been spotlighted by Huang’s remarks. Traders also leaned into risk as equity futures recovered despite the policy tightening.
Asset | 24h move | Price level |
|---|
Zcash (ZEC) | +23% | about $1,369 |
Bitcoin (BTC) | <1% | about $76,258 |
Solana (SOL) | nearly 3% | just below $100 |
BNB | >2% | — |
HYPE (Hyperliquid) | >2% | — |
Ether (ETH) | 1%–2% | — |
XRP | 1%–2% | — |
Dogecoin (DOGE) | 1%–2% | — |
How did other major cryptocurrencies trade?
Market gains were broad but measured outside ZEC. Bitcoin added less than 1% to around $76,258. Solana advanced nearly 3% to just under $100. BNB and HYPE each climbed more than 2%. Ether, XRP and dogecoin rose between 1% and 2%, extending a cautious risk-on tone alongside recovering stock futures.
The pattern points to a rotation into higher-beta tokens on a positive equity backdrop, even as policy tightens. The dispersion was clear: ZEC outperformed with a 23% surge and a spot level near $1,369, while BTC’s incremental move suggested investors balanced privacy and altcoin exposure against the market’s largest cryptocurrency.
What should investors watch next?
Focus centers on whether crypto strength holds as markets digest the first Fed hike since 2023. Sustained equity-futures resilience would support risk assets, while any reversal could test Thursday’s crypto gains. ZEC’s momentum may remain sensitive to investor interest in privacy narratives and further public commentary from prominent market participants.
For now, breadth improved: ZEC led with a 23% gain; BTC hovered near $76,258; and SOL approached the $100 threshold. Near-term price action will likely hinge on follow-through in U.S. trading and any additional signals from policymakers regarding the pace of tightening.
