Arthur Hayes, co-founder of BitMEX, has urged Zcash holders to withdraw their assets from exchanges and utilize the cryptocurrency's 'shield' privacy features. Hayes emphasized Zcash's significant 700% price increase and its rising popularity among institutional and retail investors. He revealed that Zcash is now the second-largest liquid holding in his MaelstromFund portfolio. The Zcash Foundation noted that the recent market surge was organic, without active promotion. Despite facing global regulatory scrutiny, privacy coins like Zcash and Monero continue to see on-chain adoption as a counterbalance to potential risks.