ZCASH (ZEC) has been added to another round of “voting for the Registration Committee” on Binance. The potential listing has sparked concerns about the attitudes of vinance regarding confidential coins.
ZCASH (ZEC) has been added to its latest “Subscriber Vote” to raise concerns in the crypto privacy community. Zec has seen other registrations, but has also led to removals from Binance over the past few months. ZEC is included in previous rounds for delisting to draw fake votes at some point. So far, the coin survives and still exists in binance.
The project’s founder, @Zooko, protested the possibility of listing. Currently, Binance is listed most privacy coins or requires users to dismiss their deposits for transactions.
Binance, you are considering listing Zcash! ?
What kind of world do you create? Do you want your children to grow up in peace and prosperity, or is it an episode of Black Mirror? @_richardteng, privacy is normal! Support Zcash with Coinbase, Gemini, Kraken and more to support privacy!
– Zooko🛡🦓🦓🦓 (@Zooko) April 14, 2025
Voting for ZEC runs until April 16th, with other nearly inactive tokens included for potential Delisting. Binance chose coins and tokens from the old stories. This registration round may include Jasmy from FTX Exchange and the now deprecated FTT token. The Zcash community also wondered why Binance placed coins in the same cohort as highly unstable tokens, or in the same cohort as projects without additional utilities or development.
Binance’s trading pair accounts for around 14.2% of all ZEC volumes of around $83 million. Coin also earns Coinbase list and holds some activities based on its legacy status. ZEC has gone through multiple bull and bear cycles and holds one of the most dedicated crypto communities. However, the token is considered dangerous since January 2024, as Binance has tagged its assets with monitoring tags.
ZEC is currently trading at $31.20 and is primarily under pressure on interest and regulatory losses on privacy coins. ZEC is just outside the top 100 coins and tokens in terms of market capitalization.
ZEC launched in 2017 at a price of over $3,000 and aimed to become a competitor of Monero (XMR) and similar assets. Additionally, ZEC has acquired its status as a business privacy coin by pushing to achieve four-digit prices.
The subsequent loss of bear markets, registrations and demand made ZEC a low-priced altcoins.
Nevertheless, the ZCASH community refuses to admit that ZEC is a dead coin or a scam. ZCASH developers also aim to develop additional privacy tools independent of Coin’s performance.
The ZCASH project is ranked at position #48 based on Cryptomiso data and has regular protocol updates. ZCASH considers the project a privacy lab, but ZEC suffers from the wide spread of KYC requirements and requirements to link wallets with online IDs.
Binance offers a BSC version and keeps Zcash chain coins in cold storage
One of the controversial issues with Binance’s ZEC is the offering of a tokenized version of privacy coin. Zec runs on its own network, but is currently moving around 2.5k Daily trading. The chain carries approximately 2.25k active daily address.
Binance’s Zec Cold Wallet It also contained relatively small reserves of $22.3 million in ZEC, or about 715.8m of coins. Most coins were inactive and some users were urged to avoid ZEC sediments. Currently, withdrawal is only possible in the BNB version, and the community does not consider “real” ZEC. This version is restricted to Binance Transfers and Transactions only if the assets are not delisted.
The Binance Cold Wallet was last active when sending a series of outgoing transactions. The withdrawal coincided with news of delisting in the end.
Binance Cold Wallet has been inactive since February 14th, but in the past day a series of transactions have moved a $22 million ZEC.
The ZEC holder has withdrawn the value of about 22m, essentially reducing the balance of Binance in half. Due to the privacy restrictions of the ZCASH chain, there is no way to track recipients. No additional deposits are found in Binance Cold Wallet, and the exchange is currently not used for cashing. ZEC ownership remains a tool for sending private, virtually untrackable transactions despite its low price.