Arthur Hayes has identified NEAR Protocol ($NEAR) as a top investment pick, with a bullish price target set at its previous all-time high. The investment thesis for $NEAR centers on a "privacy + intents" narrative expected to generate positive cash flow for the protocol. Additionally, the provided text mentions existing large positions in Hyperliquid ($HYPE) and Zcash ($ZEC), while projecting a target of 10,000 for the S&P 500.