Multicoin partner: The crypto market has already hit bottom; long-term, we remain bullish on SOL, HYPE, and ZEC

BlockBeats, July 13 — Tushar Jain, Managing Partner at Multicoin Capital, said on a podcast that the crypto market has reached its bottom and is now in a critical turning point. He believes current market sentiment has already cleared; recent negative news, including major hacking incidents, has not triggered large-scale selloffs. With application adoption continuing to rise and asset prices gradually diverging from fundamentals, all these are releasing signals of a market reversal, and the current environment is forming a “perfect storm.”

Jain remains bullish on the long-term potential of Solana (SOL) and Hyperliquid (HYPE). He believes SOL is an ideal infrastructure for spot trading and the development of tokenized securities, while Hyperliquid leads in on-chain derivatives. Currently, both his personal and institutional capital are heavily allocated to the two.

He also disclosed that Multicoin has accumulated a substantial portion of the Zcash (ZEC) supply, and believes the project represents a return to the cypherpunk concept. In the future, it could potentially rank among the top five by market cap in the crypto market. In terms of position management, Jain uses a “three-part” strategy: deploying one-third of the funds immediately, allocating the second portion via DCA, and reserving the final one-third to respond to a major market pullback. In the earlier Zcash code vulnerability incident, after the team confirmed it was not exploited by the hacker, it actually increased its position further.