Tushar Jain, managing partner at Multicoin Capital, said the crypto market has already bottomed and is now at a turning point. He said market sentiment has truly hit a low, while major hacking incidents in recent weeks failed to trigger broad selling. At the same time, application adoption continues to rise, leaving prices disconnected from fundamentals.
Jain said he remains bullish on Solana over the long term, arguing that SOL has the right architecture for spot trading and tokenized securities. He also pointed to Hyperliquid’s leading position in the derivatives segment and said Multicoin currently holds large positions in both assets.
On ZEC, Jain said Multicoin has accumulated a meaningful share of the token’s supply. He described ZEC as a return to the industry’s “cypherpunk” values and said it could reach the top five by market capitalization. He added that his portfolio strategy uses a three-part approach: buy one-third immediately, dollar-cost average the second third, and keep the final third in reserve for sharp market drops. Jain also said the firm significantly increased its position during the Zcash code vulnerability incident after confirming that no hackers had exploited it.
Jain says the market has already bottomed
Tushar Jain, managing partner at Multicoin Capital, said the crypto market has bottomed and entered a turning point, according to Odaily. He said sentiment has genuinely reached its low.
Jain pointed to recent major hacking incidents that did not trigger large-scale selling. He also said application adoption is still rising, while prices have become disconnected from fundamentals.
Large positions in SOL and Hyperliquid
Jain said he remains bullish on Solana over the long run. In his view, SOL provides the right architecture for spot trading and tokenized securities.
He also said Hyperliquid holds a leading position in derivatives, and that Multicoin currently has large positions in both SOL and Hyperliquid.
Multicoin has accumulated a notable share of ZEC supply
On ZEC, Jain said Multicoin has built up a considerable share of the token’s supply. He said the asset represents a return to the industry’s “cypherpunk” values and could move into the top five by market capitalization.
Three-part position management
Jain described a three-part approach to deploying capital: buy one-third immediately, use dollar-cost averaging for the second third, and reserve the final third as dry powder for a sharp decline.
Added heavily after Zcash vulnerability review
He also said that during the Zcash code vulnerability incident, the team watched the situation and sharply increased its position after confirming that no hacker had exploited the flaw.
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