Why he added ARX: C-SPL and Blackthorn as catalysts
Post294 words
Bullish call$ARX+32%since this piece, moved with the callHow it played out ↓Arcium's MPC network has run since Feb with 2.5M+ computations; C-SPL and Blackthorn would tie it to private money and private AI. ARX at $33M mcap is 33x below Venice with no unlocks until June 2027; risks are C-SPL delays and fees paid in SOL.
Key claims
ARX $33M mcap / $159M FDV, 66% off June TGE high
No token unlocks until June 2027
Fees paid in SOL, not ARX
Added some $ARX over the past few weeks.
Quick rundown on why:
Privacy is a $ZEC-led narrative rn and $ARX hasn't rly caught that bid yet. Makes sense tho as C-SPL (Arcium's confidential token standard on Solana) isn't live on mainnet yet. Umbra is cool and runs on Arcium, but it's an app with its own SDK, not the native standard. Arcium's MPC network itself has been live since Feb with 2.5M+ encrypted computations.
Once C-SPL hits, Arcium is the brand behind a generalisable, Solana-native private money system any SPL token and any program can plug into. More composable and accessible than a shielded pool.
The bigger angle imho is private AI tho. @AskVenice ($VVV) owns that narrative rn at a $1.1B mcap, running E2EE inference in TEEs, so you trust the chip.
Arcium's MPC swaps that for a non-collusion assumption, arguably the stronger trust model for this exact use case.
And the product already has a name: Blackthorn, encrypted inference on standard Nvidia GPUs, announced in June, early access, nothing public yet. Infra in place tho, and the team is in place too (they acquired Inpher's MPC-for-ML team in 2024). Would almost be surprised if this doesn't ship straight into the narrative $VVV is being valued on soon.
Valuation-wise $ARX sits at $33M mcap / $159M FDV. 33x below Venice on mcap, a rounding error vs $ZEC, and still 66% off its June TGE high.
No token unlocks until June 2027 either.
The current main questions are the timeline and value capture. C-SPL already been delayed for some time, and fees are paid in SOL iirc, not ARX. But at this base, with both narratives already validated by bigger names, I like the short to mid term setup here.
But NFA, DYOR anon.
How the call played out · since 15 Sep 2026
Prices as of 23 Oct 2026This piece takes a view on $ARX, so that move is read against the call. Other assets it covers are shown as context, not as calls.
+32%
Moved with the call · over 5 weeks
- At publication
- $0.161
- Now
- $0.213
- vs BTC
- +26%
- After 1 month
- +50%
- High since
- +82% 06 Oct 2026
- Low since
- 0.0% 15 Sep 2026
Mentioned for context
Since then
Zero has written 5 more pieces on Arcium and $ARX since this one.
- Arcium Blackthorn supply gap: 600 to 4,500 rentable confidential GPUs worldwideBullish call on $ARX
- Arcium Blackthorn vs Venice: private AI inference without the Intel TDX chipBullish call on $ARX
- Personal top 20 crypto watchlist grouped by narrativeBullish call on $ARX
- Why ARX: MPC as the one privacy stack across money, compute and AIBullish call on $ARX
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.