Артур Хэйес предупреждает о рисках хранения Zcash на централизованных биржах Translation: Arthur Hayes warns about the risks of storing Zcash on centralized exchanges.

Zcash holders should consider moving their ZEC from centralized exchanges (CEX), according to Arthur Hayes, co-founder of BitMEX.

«If you’re storing ZEC on a CEX, transfer it to a non-custodial wallet using secure transactions,» he advised.

Zcash employs a privacy model that includes two types of addresses. Centralized exchanges typically only support the transparent version of ZEC, making all transactions through CEX entirely traceable. To utilize the private transfers that define Zcash as a privacy coin, non-custodial wallets compatible with zk-SNARK operations are necessary.

At the time of writing, there are 4.8 million ZEC, or 23% of the total token supply, in secure pools such as Sprout, Sapling, and Orchard. The majority of these assets are held in the Orchard pool, the most advanced of the three, introduced with the NU5 upgrade in 2022, which is based on the new cryptographic construction, Halo 2.

The significant rise in secure transactions has coincided with an increase in the price of anonymous cryptocurrency. On November 6, the coin surpassed $500 for the first time since 2018 and quickly reached $750.

Amidst this rally, Zcash surpassed Monero (XMR), the long-time leader in the sector, in market capitalization.

As of the report, ZEC is trading at $473, giving it a market value of $7.8 billion.

Previously, an analyst known as Altcoin Sherpa warned of a potential «painful crash» for the asset after a 1500% increase over two months. Some market participants noted the overbought condition of the coin, suggesting it might fall into the $300 to $400 range.

Nevertheless, many in the market remain optimistic about Zcash’s future, including Hayes, who has predicted a rally for the cryptocurrency to $10,000.

However, the recent correction from local highs seems 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 queried in one of his recent posts.

On November 12, Leap Therapeutics, which trades on Nasdaq, announced their rebranding to Cypherpunk Technologies Inc. The firm is shifting toward a strategy of accumulating cryptocurrency, particularly Zcash.

Cypherpunk raised $58.8 million through a private stock placement, led by venture firm Winklevoss Capital, founded by Gemini exchange creators Cameron and Tyler Winklevoss.

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

Following the announcement, the shares of Leap Therapeutics fell nearly 5%.

In related news, Galaxy Digital analyst Will Owens referred to Zcash as the «spiritual successor» to Bitcoin.