On-chain analyst Yu Jin has detected a wallet address withdrawing 37,316 ZEC from Binance, valued at approximately $13.12 million at the time of the transaction. The withdrawal occurred about 20 minutes ago, when the ZEC price was rebounding after hitting a recent low amid heightened market volatility.
Zcash (ZEC) is a privacy-focused cryptocurrency that uses zero-knowledge proofs to conceal transaction details. It is currently ranked among the top 100 by market capitalization. The large transfer represents a significant whale movement, with over ten million dollars worth of ZEC moved off the exchange in a single transaction.
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