Arthur Hayes tells Zcash holders to withdraw from CEXs and ‘shield’ assets

💡 DMK Insight

Hayes’ push for self-custody in Zcash signals a pivotal moment for privacy coins amidst volatility. With the market experiencing sharp price swings, traders should take note of the renewed interest in privacy-focused assets. Zcash, often overshadowed by more mainstream cryptocurrencies, could see increased demand as investors seek anonymity in their transactions. This shift might not only affect Zcash but could also ripple through other privacy coins like Monero and Dash, creating opportunities for strategic trades. Watch for key resistance levels around recent highs, as breaking through these could trigger further buying momentum. On the flip side, if the broader market sentiment turns bearish, these coins could face significant sell-offs, so keeping an eye on overall market trends is crucial. In the coming days, monitor trading volumes and social sentiment around privacy coins, as spikes could indicate a trend shift worth capitalizing on.