According to Chainalysis, a substantial Zcash holder moved 202,077 ZEC from Binance about 13 hours ago, signaling a significant on-chain transfer valued near $88.28 million. The exit occurred at an average price around $437 per coin, underscoring active cross-exchange liquidity in the sector.

Market participants should note the scale of this outbound transfer from a major exchange and its potential implications for ZEC liquidity and privacy-focused assets. The report reinforces the importance of on-chain analytics in detecting large-scale wallet movements.

Chainalysis did not disclose the destination or purpose of the transfer, with no immediate reading on market impact. Readers should monitor follow-up wallet activity and exchange flow data for longer-term liquidity signals.