Zcash surged 23% to approximately $1,369 over the past 24 hours as cryptocurrency markets broadly rebounded following the Federal Reserve's quarter-point interest-rate increase to a range of 3.75% to 4%.
Bitcoin edged up less than 1% to around $76,258, while other major tokens also advanced. Solana gained nearly 3% to just below $100, BNB and Hyperliquid's HYPE token added more than 2%, and ether, XRP, and dogecoin rose between 1% and 2%.
Zcash's rally coincided with comments from Matt Huang, co-founder of crypto investment firm Paradigm, who disclosed that his firm owns ZEC and described it as a private complement to Bitcoin. Zcash enables users to send money without publicly revealing transaction details, and its holders recently backed proposals to implement faster payments while maintaining scheduled reductions in new coin creation, mirroring Bitcoin's approach.
The broader crypto rebound reflected investor sentiment following the Fed's rate decision. While higher rates typically increase borrowing costs and reduce capital available for speculative assets, the central bank's median projection indicated only one additional quarter-point increase for the remainder of 2026, with rates holding steady through 2027. Market analysts viewed this guidance as a signal that the Fed does not currently anticipate an aggressive tightening cycle.
Stock markets also recovered, with S&P 500 futures rising 0.6% and Nasdaq 100 futures gaining 0.7%, while Asian equities added 0.3%. The two-year Treasury yield eased two basis points to 4.71% after reaching its highest level since 2024 in the previous session.
