Arthur Hayes Unveils Zcash as Major Maelstrom Holding
BitMEX co-founder Arthur Hayes announced that Zcash (ZEC) is now the second-largest liquid holding in his family office, Maelstrom, trailing only Bitcoin. Hayes made the disclosure on X, noting that Zcash�s price surge helped boost its prominence within his portfolio.
Zcash Price Rallies Sharply
ZEC has experienced significant gains over the past month, rising from a low of $137 to over $730. This marks an increase of more than 400%. Other privacy-focused coins, including Dash, Decred, and ZKsync, have also gained over 100% during this period. In contrast, leading assets like Bitcoin and Ether have remained within tight trading ranges amid ongoing market uncertainty.
At the time of writing, Zcash changes hands at $548, representing a 24-hour decline of 11.8%. The token�s market capitalization stands at $8.9 billion, according to CoinMarketCap. Trading volume remains elevated, with 24-hour turnover up 139% to $4.63 billion.
- Circulating supply: 16.28 million ZEC
- Maximum supply: 21 million
- Fully diluted valuation: approximately $11.5 billion
Privacy Narrative Fuels Demand
Zcash supports both transparent and shielded transactions, appealing to users seeking digital privacy. The network employs a fixed supply cap of 21 million coins and is secured by a proof-of-work mechanism, similar to Bitcoin.
Zcash Foundation executive director Alex Bornstein highlighted that the recent surge in Zcash interest has been entirely organic, citing growing concerns about government surveillance and control of personal data. In an interview, Bornstein said renewed interest is driven by the desire for financial autonomy and digital privacy.
The Zcash Foundation, a US-registered nonprofit, clarified that it played no role in driving the recent wave of attention to ZEC. Bornstein explained, �We were surprised to see when these mentions started popping up. Then to see that kind of wave just start to spread and then crest was extraordinary.�
The developments point to a revival of privacy narratives within the broader cryptocurrency market, particularly as major coins hold steady and select privacy tokens gain momentum.
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