Артур Хэйес призывает Zcash-холдеров перейти на некастодиальные кошельки для защиты активов Translation: Arthur Hayes urges Zcash holders to switch to non-custodial wallets to safeguard their assets.

Owners of Zcash are advised to stop storing ZEC on centralized exchanges (CEX). This opinion was expressed by BitMEX co-founder Arthur Hayes.

“If you keep ZEC on CEX, transfer it to a non-custodial wallet using secure transactions,” he stated.

Zcash employs a privacy model featuring two types of addresses:

Centralized exchanges typically only support the transparent version of ZEC, rendering all transactions through CEX fully traceable. To utilize secure transfers that make Zcash a private coin, non-custodial wallets with zk-SNARK operations are necessary.

At the time of writing, secure pools—Sprout, Sapling, and Orchard—hold 4.8 million ZEC, which is 23% of the total token supply.

The majority of the assets are concentrated in the Orchard pool, the most advanced of the three, introduced with the NU5 upgrade in 2022. It is based on a new cryptographic framework called Halo 2.

The sharp increase in secure transactions coincided with a rise in the price of anonymous cryptocurrency. On November 6, the coin surpassed $500 for the first time since 2018, rapidly reaching $750 afterwards.

Against the backdrop of Zcash’s rally, it overtook Monero, the long-standing leader in market capitalization (XMR).

At the time of writing, ZEC is trading at $473, with a market capitalization of $7.8 billion.

Previously, an analyst known as Altcoin Sherpa predicted a «painful collapse» of the asset following a 1500% increase over two months. Some market participants noted the coin’s overbought status, anticipating a drop to the $300 to $400 range.

Nonetheless, many in the market remain optimistic about Zcash’s future. Among them is Hayes, who forecasted a rally for the cryptocurrency up to $10,000.

However, the correction of ZEC from local peaks appears to have shaken the confidence of the BitMEX co-founder.

“To sell or not to sell—that is the question. ZEC at $10,000 or $10?” he pondered in one of his recent posts.

On November 12, the Nasdaq-listed company Leap Therapeutics announced its rebranding to Cypherpunk Technologies Inc. The firm is moving towards a cryptocurrency accumulation strategy—specifically, Zcash.

Cypherpunk raised $58.8 million through a private placement. The funding round was led by Winklevoss Capital, founded by Gemini cryptocurrency exchange creators Cameron and Tyler Winklevoss.

The firm acquired 203,775.27 ZEC at an average price of $245 per coin, spending a total of $50 million. On November 13, Cypherpunk will begin trading under the ticker CYPH.

In light of this news, shares of the still-named Leap Therapeutics fell nearly 5%.

Additionally, analyst Will Owens from Galaxy Digital described Zcash as the «spiritual successor» to Bitcoin.