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Arthur Hayes Names Zcash His Family Office’s No.2 Position
BitMEX co-founder Arthur Hayes has confirmed that Zcash (ZEC) is now the second-largest liquid holding in his family office, Maelstrom, trailing only Bitcoin (BTC). In a post on X, Hayes said ZEC climbed rapidly in value, elevating its weight in MaelstromFund’s liquid portfolio and drawing attention across crypto markets.
Explosive ZEC rally and market context
Zcash surged more than 400% over the past month, rallying from roughly $137 to highs above $700 before pulling back. At the time of Hayes’ disclosure ZEC had eased to around $548, still representing a dramatic short-term gain that pushed its market capitalization into the multi-billion-dollar range. Trading volumes have spiked alongside the price — a typical pattern during intense momentum moves.
ZEC drops after massive rally
While privacy-focused tokens led the latest breakout, large-cap assets such as Bitcoin and Ether have remained largely range-bound amid wider market uncertainty. Other privacy-related projects like Dash and Decred also posted double-digit weekly gains, reinforcing a broader narrative supporting privacy coins.
Why investors are flocking back to Zcash
Several factors have driven renewed interest in Zcash. Its hybrid protocol supports both transparent and shielded transactions, appealing to users and investors who prioritize optional privacy on the blockchain. Additionally, Zcash shares Bitcoin’s capped supply model — a maximum of 21 million coins — and is secured by proof-of-work, details that make it familiar to long-term crypto holders.
Zcash Foundation executive director Alex Bornstein described the resurgence as organic. Speaking about the surge, he told Cointelegraph’s Chain Reaction that public concerns around surveillance and data control helped fuel a “powerful narrative” in favor of privacy-preserving digital money. Bornstein emphasized that the Zcash Foundation, a US-registered nonprofit, did not initiate the spike, and was surprised by the wave of renewed attention.
Supply metrics and outlook
The circulating supply of ZEC stands near 16.28 million with a maximum supply of 21 million, giving the token a fully diluted valuation in the ballpark of $11.5 billion during the rally. High on-chain activity and rising volumes are indicators traders and institutional holders watch closely. For Maelstrom and other family offices, the rapid appreciation and liquidity profile of ZEC appear to have justified its elevated portfolio allocation.
As privacy coins continue to gain visibility, market observers will be watching regulatory developments, on-chain metrics, and capital flows to determine whether Zcash can sustain its gains or if short-term profit-taking will lead to further volatility.
Source: cointelegraph
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