Zcash (ZEC) shot up by about 20% over the past 24 hours. The pump came right after Paradigm co-founder Matt Huang announced that the firm had invested in ZEC, just as the whole crypto market was rallying.

ZEC's Price Surge: The Details

In the span of a day, ZEC saw a roughly 20% price spike. At the same time, Matt Huang confirmed that Paradigm had put money into ZEC. The timing of these two events lined up perfectly, drawing extra eyes and hype to the coin.

The Bigger Picture: Crypto Market Rally

ZEC's move comes as the broader crypto market is on an upswing. In this kind of environment, news about big investments in specific tokens tends to fuel trader interest and boost trading liquidity, which cranks up price volatility.