On Saturday, the crypto market saw a significant surge across Asia, even after the US Federal Reserve raised interest rates—a move that marked the first such hike since 2022.

Here is a look at the numbers for the day:

# Zcash (ZEC) alone surged 23%, trading at approximately $1,369.

# Bitcoin traded at around $76,258.

# Solana rose nearly 3%, while BNB gained over 2%; Ethereum, XRP, and Dogecoin saw increases of 1–2%.

Why did Zcash surge so much?

# Matt Huang, co-founder of the major firm Paradigm, revealed that his company holds ZEC, describing it as a "private complement to Bitcoin."

# Zcash’s unique feature allows users to send money without publicly disclosing the transaction details or the amount involved.

Why did the overall market rise?

# The Fed raised interest rates by 0.25 percentage points, bringing the new range to 3.75%–4%—a move that was widely anticipated by the market.

# Investors were relieved by the indication that the Fed might not continue its aggressive rate-hiking path for the time being, despite earlier forecasts suggesting another hike could occur before the end of the year.

What do you think? Is this market rally sustainable, or could an unexpected development cause a reversal?

Sourcecryptone

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