Zcash rises to second-largest holding in Arthur Hayes' Maelstrom portfolio behind Bitcoin

Key Takeaways

• BitMEX co-founder Arthur Hayes said Zcash (ZEC) has risen to Maelstrom’s second-largest liquid holding.
• The coin's price rally stands out against the backdrop of a market-wide slump.

BitMEX co-founder Arthur Hayes revealed that Zcash (ZEC) now ranks as the second-largest liquid asset in his family office Maelstrom’s portfolio, trailing only Bitcoin, following a sharp appreciation in its price.

Zcash re-entered the top 20 cryptocurrency rankings with a market capitalization of $9.4 billion. The coin briefly overtook Hyperliquid on Friday before HYPE regained the lead. The milestone comes amid a wider market downturn, with Zcash rising over 700% since early October.

Zcash has drawn renewed interest as a leading privacy coin amid discussions about enhanced transaction anonymity in the crypto space.

Hayes has publicly emphasized Zcash’s role in reshaping portfolio allocations toward assets with strong privacy capabilities, as the privacy-trading narrative gains momentum in crypto markets.