Multicoin Capital managing partner Tushar Jain said the crypto market has already bottomed and is now at an inflection point, according to ChainCatcher. He said market sentiment has truly bottomed as well. Jain pointed to the lack of broad selling after recent major hacking incidents, continued growth in application adoption, and what he described as a disconnect between prices and fundamentals.
On positioning, Jain said he remains bullish on Solana over the long term, arguing that SOL offers the right architecture for spot trading and tokenized securities. He also said Hyperliquid holds a leading position in derivatives and that he currently has large positions in both assets. On ZEC, Jain said Multicoin has accumulated a significant share of the token’s supply and views it as a return to the industry’s “cypherpunk” values, with potential to enter the top five by market capitalization.
He also outlined a three-part portfolio approach: buy one-third immediately, deploy the second third through dollar-cost averaging, and keep the final third in reserve for sharp market drops. Jain added that his team significantly increased its Zcash position after monitoring a code vulnerability event and confirming that no hacker had exploited it.
Jain says crypto has reached an inflection point
Multicoin Capital managing partner Tushar Jain said the crypto market has already bottomed and entered a turning point, according to ChainCatcher. He added that market sentiment has also truly hit bottom.
Jain said recent major hacking incidents and similar headlines did not trigger broad-based selling. He also pointed to continued growth in application adoption and said prices have become disconnected from fundamentals.
Large positions in SOL, Hyperliquid and ZEC
Jain said he remains bullish on Solana over the long run, arguing that SOL is the right architecture for spot trading and tokenized securities.
He also said Hyperliquid is leading in derivatives and that he currently holds large positions in both Solana and Hyperliquid.
On ZEC, Jain said Multicoin has accumulated a significant share of the token’s supply. He described it as a return to the industry’s “cypherpunk” values and said it could move into the top five by market capitalization.
Three-part allocation strategy
Jain said he uses a three-part approach to position management: buy one-third immediately, invest the second third through dollar-cost averaging, and keep the final third as reserve capital for steep market declines.
He also said the team significantly increased its Zcash position during a code vulnerability incident after observing the situation and confirming that no hacker had exploited it.
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