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A 20% gain in 24 hours for Zcash (ZEC) followed disclosure by Paradigm co-founder Matt Huang that the crypto-focused investment firm holds a position in the asset.
The move came against the backdrop of a broader rally across crypto markets. What the disclosure said Huang confirmed that Paradigm made an investment in ZEC.
No terms were provided in the disclosure: no cost basis, no position size, no entry timeline.
What the market received was the fact of the investment itself, attributed to one of the more closely watched allocators in the digital asset space. The 20% 24-hour price move is the headline figure.
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