Multicoin Partner: Crypto Market Has Bottomed Out, Long-Term Bullish on SOL, HYPE, and ZEC

Multicoin Capital managing partner Tushar Jain said on a podcast that the crypto market has hit bottom and entered a critical turning phase. He noted that current market sentiment has fully cleared out, recent negative news including major hacks has not triggered mass sell-offs, while rising application adoption rates and the growing divergence between asset prices and fundamentals are both signaling a market reversal, with the current environment shaping a "perfect storm". Jain remains bullish on the long-term potential of Solana (SOL) and Hyperliquid (HYPE), arguing that SOL is ideal infrastructure for spot trading and tokenized securities development, while Hyperliquid holds a leading position in on-chain derivatives. He currently holds significant allocations to both assets across his personal and Multicoin’s institutional funds. Additionally, he revealed that Multicoin has accumulated a substantial portion of Zcash (ZEC)’s total supply, and views the project as a return to cypherpunk ideals, with potential to rank among the top five crypto assets by market cap in the future. For position management, Jain uses a "trichotomy" strategy: allocating one-third of capital immediately, deploying a second portion via dollar-cost averaging (DCA), and holding the final third to hedge against sharp market pullbacks. Following Zcash’s earlier code vulnerability incident, after the team confirmed no exploitation by hackers, Jain increased his position in the asset.