Binance, one of the world's largest cryptocurrency exchanges, has announced its support for the upcoming Ironwood network upgrade and hard fork on the Zcash (ZEC) network. According to the exchange, deposit and withdrawal operations on the Zcash network will be temporarily suspended to ensure a smooth transition. The upgrade is scheduled to take place at block number 3,428,143, expected on July 28, 2026, around 4:00 PM UTC.
Binance will halt deposits and withdrawals for ZEC starting at 3:00 PM on the same day, but trading on Binance Spot and other platforms will continue without interruption. The exchange emphasized that all technical requirements will be managed internally, and users will not need to take any additional action. Services will resume once the network is confirmed stable.
Meanwhile, Zcash has been showing strong market momentum, trading at $541.07 with a 1.5% daily gain and nearly 20% monthly increase. The Ironwood upgrade, designed to enhance privacy and transparency while migrating from the legacy zcashd software to newer infrastructure like Zebra, has fueled optimism among investors. Data from Hyperliquid shows a notable shift in derivatives positioning, with a reduction in long positions and an increase in shorts, setting up a potential short squeeze if ZEC breaks above the $562.91 resistance level.
Technical indicators are bullish, with ZEC trading above all major moving averages and the Relative Strength Index at 57.41 indicating room for further upside. A daily close above $562.91 could push prices toward the next resistance at $583.43. The Ironwood upgrade, combined with Binance's support, could serve as a catalyst for Zcash to extend its recent gains.
