#Why Should Zcash Holders Consider Self-Custodial Wallets?
Zcash holders should take action and transfer their ZEC assets from centralized exchanges to self-custodial wallets. This recommendation comes from Arthur Hayes, the co-founder of BitMEX, who emphasizes the importance of protecting your assets. By withdrawing your ZEC and shielding it in a self-custodial wallet, you enhance your control over your investment and reinforce its security.
#What Factors Contributed to the Surge in Zcash's Value?
Zcash has recently experienced an impressive surge, skyrocketing approximately 700% since October. It reached $711 last week, its highest level since early 2018, before currently trading at around $474, reflecting an increase of 88% over the past month. This remarkable rise can largely be attributed to growing interest in the cryptocurrency's privacy features. As discussions regarding transaction anonymity become more prevalent in the crypto community, Zcash appears to be gaining momentum as a preferred choice among investors.
#What Does This Mean for Your Investment Strategy?
Hayes has noted that Zcash now ranks as the second-largest liquid asset in his family office, Maelstrom, only behind Bitcoin. This suggests that investors may want to consider the implications this upward trend could have on their strategies. The privacy capabilities of Zcash may provide a competitive advantage in an increasingly privacy-focused market, positioning it as a valuable addition to a diverse portfolio.
This rapid appreciation in value should encourage those involved in cryptocurrency to reassess their holdings and consider self-custody for enhanced security and control while navigating the evolving landscape of digital assets.