ZEC reached an intraday high around $1,388–$1,389 on Thursday after jumping as much as 23% over 24 hours. The move dramatically outpaced Bitcoin, which gained less than 1% while trading around $76,000.
The divergence comes as the broader crypto market attempts to stabilize following the Federal Reserves latest rate decision, with Bitcoin recently rebounding from its post-Fed weakness.
The Zcash rally also coincided with Paradigm co-founder Matt Huang publicly confirming that the crypto investment firm owns ZEC and describing Zcash as a private complement to Bitcoin.
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Zcash Hits Record as Paradigm Discloses ZEC Position
ZEC traded around $1,369 during Thursdays rally after briefly approaching $1,400, according to market data.
That puts the privacy coin up roughly 168% over the past month, following an extraordinary recovery that has transformed Zcash from a relatively overlooked asset into one of cryptos largest tokens by market capitalization.
Paradigms disclosure provided a fresh institutional catalyst.
Huang said the firm owns ZEC while arguing that Zcash could serve as a privacy-focused complement to Bitcoin. He also backed continued developer funding and discussed how the network should balance token-holder voting with other governance mechanisms.
The disclosure does not establish that Paradigm buying caused Thursdays rally, but it added a recognizable institutional name to an already accelerating ZEC narrative. The move comes as large crypto investors are receiving renewed attention across the market, including recent evidence that Bitcoin whales are accumulating during periods of price weakness.
Zcash Holders Back Faster Blocks and Bitcoin-Style Halvings
Zcashs rally also follows an important vote over its upcoming NU7 network upgrade.
Coinholders overwhelmingly supported reducing Zcashs target block time from 75 seconds to 25 seconds, potentially allowing transactions to be processed faster if the proposal is implemented.
Another 98.9% backed preserving Zcashs existing halving schedule, with approximately 2.4 million ZEC participating in that vote.
The distinction matters: these votes signal community support for the proposed changes, but they do not mean every change is already active on the network.
Maintaining the halving structure also reinforces one of Zcashs similarities with Bitcoin. Both assets have capped supplies and scheduled reductions in new issuance, while Zcash adds optional privacy features that can obscure transaction details.
That scarcity narrative is particularly relevant while Bitcoin itself remains sensitive to institutional flows, with recent Bitcoin ETF outflows highlighting how quickly demand conditions can shift across the crypto market.
For Zcash, however, the combination of a Bitcoin-style issuance model, stronger institutional visibility and proposed network improvements has created a distinct catalyst. Whether that momentum can carry ZEC decisively through $1,400 is now the immediate test.