Arthur Hayes invests $2.5 million in Zcash: Is a rise imminent?

Arthur Hayes invests $2.5 million in Zcash: Is a rise imminent?

Arthur Hayes, the co-founder of BitMEX, has been making waves in the crypto world in recent days. On November 15, 2025, he transferred a total of $2.5 million worth of Ethereum and ecosystem tokens to various institutional market makers, including Flowdesk, FalconX, and Wintermute. Blockchain analyst EmberCN questions in a report whether Hayes is using these transactions to increase his Zcash position. Last week, Hayes was also positive about his ZEC holdings, particularly during a privacy coin surge.

The day before the transfers, Hayes increased his ZEC position after a massive 700% increase since October. This could be an indication that he is interested in Zcash's future price developments. EmberCN also noted that Hayes may be planning to sell more LDO tokens after conducting an initial test transfer of 10 LDO tokens to FalconX.

Transactions in detail

Arthur Hayes' specific transactions include the transfer of 520 ETH, equivalent to approximately $1.66 million, as well as 2.624 million ENA valued at $730,000 and 132,000 ETHFI valued at $120,000. In a further step, Hayes sold as follows:

• 260 ETH (820.000 USD)
• 2,40 Millionen ENA (657.000 USD)
• 640.000 LDO (480.000 USD)
• 1.630 AAVE (290.000 USD)
• 28.670 UNI (211.000 USD)

In total, the value of these sales was approximately $2.45 million. EmberCN wondered whether Hayes plans to convert these assets into Zcash, increasing speculation about his future strategy.

Optimism for Zcash

Hayes has made bullish statements about Zcash in recent weeks. He described ZEC as his second largest liquid holding in the Maelstrom Fund, behind only Bitcoin. According to Hayes, ZEC could reach up to 10% to 20% of Bitcoin's value in this market cycle. This assessment is supported by the CIO of Maelstrom Fund, who predicted that Zcash could potentially be worth between $10,000 and $20,000 per coin.

Additionally, Hayes recently urged ZEC holders to withdraw their tokens from centralized exchanges and transfer them to a self-managed wallet to increase the control and security of their investments.

While developments in the crypto world can be closely monitored, it remains to be seen whether Hayes' strategies and assessments will be successful in the ever-changing landscape of digital currencies. It is clear to the community that Hayes plays an active role and his decisions could have an impact on the market.

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