Multicoin Capital’s Tushar Jain Says Crypto Market Has Bottomed and Entered a Turning Point

Multicoin Capital managing partner Tushar Jain said the cryptocurrency market has bottomed and is entering a turning point, citing signs such as subdued selling after major hacking incidents and rising application adoption. According to Foresight News, Jain made the comments on the When Shift Happens podcast, saying market sentiment has “truly bottomed” and that prices have become disconnected from fundamentals, which he described as part of a “perfect storm” indicating a shift. Jain said he remains bullish on Solana over the long term, arguing that SOL provides the right architecture for spot trading and tokenized securities. He also expressed optimism about Hyperliquid’s position in the derivatives sector and said Multicoin holds sizable positions in both. 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. He said he believes ZEC could enter the top five by market capitalization. Jain also outlined a position management approach he described as a “three-part method”: buying one-third immediately, dollar-cost averaging into the second third, and reserving the final third as flexible capital for sharp market declines. He added that during a Zcash code vulnerability incident, the team increased its position significantly after observing and confirming there was no hacker exploitation.