Arthur Hayes Launches $7K ZEC Meme Contest for Christmas

Arthur Hayes, co-founder of BitMEX, initiated a meme contest valued at 10 ZEC, stirring interest and participation on social media as of November 2025.

ZEC’s market capitalization surged following the announcement, reflecting significant community engagement and Hayes’s influence in the cryptocurrency sector.

Arthur Hayes Promotes ZEC via Christmas Meme Contest

Arthur Hayes, known for his influence in the cryptocurrency sector, launched a meme contest aimed at driving engagement and awareness of Zcash. Participants are asked to create memes about desired Christmas gifts from a fictional “Black Santa.” The incentive for this contest includes a prize of 10 ZEC, spotlighting the privacy-focused digital asset.

The announcement has triggered a notable price movement for Zcash. Initially, the value of ZEC has increased by over 6.6%, reflecting strong market interest and the impactful presence of Hayes on social media platforms. Such movements underscore the speculative nature of cryptocurrency valuation, especially when driven by influential figures.

“The Christmas gift I want is ZEC. This week, we are holding a meme contest for a value of 10 ZEC. Please create a meme about what Christmas gift you want to receive from the Black Santa.” – Arthur Hayes, Co-founder and former CEO of BitMEX

Zcash Price Surges Amid Meme Contest Excitement

Did you know? In July 2023, a meme contest for Dogecoin led to a price increase of 5%. Such events highlight how lighthearted contests can significantly influence digital currency values, depending upon the influencers involved.

Zcash (ZEC) is currently priced at $735.01, with a market cap of approximately $11.99 billion. The asset has experienced remarkable growth, indicated by a 24-hour price change of 12.61% and a 30-day rise of 234.32%. CoinMarketCap notes a substantial 1928.14% increase over a 90-day period, highlighting its strong market performance.

Experts from the Coincu research team believe that this event could inspire increased adoption of privacy coins like Zcash. Historically, cryptocurrency contests have promoted short-term price spikes while engaging communities. However, the long-term impact remains contingent upon continuous innovation and broader acceptance.