Arthur Hayes Reveals Zcash as Maelstrom’s Second Largest Asset

Arthur Hayes, co-founder of BitMEX, announced that Zcash (ZEC) is now the second-largest liquid position in Maelstrom’s portfolio, following Bitcoin, due to ZEC’s price rise.

This shift reflects significant market focus on privacy-centric cryptocurrencies, potentially affecting investment strategies and market dynamics in the cryptocurrency sector.

Zcash’s 340% Surge Elevates Its Portfolio Position

Arthur Hayes, a key proponent of Zcash, disclosed that due to the rapid appreciation in ZEC’s price, it has now become Maelstrom’s second-largest holding, next to Bitcoin. The Zcash price increase, over 340% this month, accelerated its ranking within the portfolio. Hayes projected Zcash could potentially reach a valuation of $10,000, highlighting its aggressive upward trajectory.

While the reallocation does not immediately affect other holdings like Ethereum, it reaffirms the ongoing adoption and liquidity drive for Zcash. The increase in ZEC’s prominence also elevates its position in the privacy coin sector, surpassing Monero.

Due to the rapid ascent in price, $ZEC is now the 2nd largest LIQUID holding in the Maelstrom portfolio behind $BTC,” Hayes stated.

Community reactions have been positive, with enthusiasm about ZEC’s performance evident across social platforms. Hayes’s confident price prediction and strategic position in Maelstrom’s portfolio align with recent exchange data, showcasing both the community’s and investors’ increasing optimism.

Privacy Coins’ Rise and Potential Impact on Regulation

Did you know? Zcash’s current market position in Maelstrom highlights a significant shift towards privacy coins, reflecting a broader historical trend of rising privacy concerns among crypto investors.

Bitcoin (BTC) holds a substantial market cap of $2.06 trillion, accounting for a dominance rate of 59.16% in the crypto market, according to CoinMarketCap. The cryptocurrency has seen a 2.50% rise in the past 24 hours but remains 11.20% lower over 90 days. Trading volumes reached $92.60 billion, indicating a notable spike, reflecting heightened investor activity.

The Coincu research team notes that the increased interest in privacy coins like Zcash could prompt changes in regulatory landscapes and drive technological advancements to support scalability and privacy infrastructure within the blockchain ecosystem. This shift marks a potential long-term technological evolution towards more secure cryptocurrency transactions.