Is this link the transparent pixel used to track opens?

Is this link the transparent pixel used to track opens?

Could someone please help me identify this highlighted link? It is automatically created by Zoho and a lot of contacts receiving campaigns will click on this link. I don't believe that it is the "update your preferences link" because on the Link Clicks Map, there are no clicks on the "update your preferences" link. Because this link doesn't actually appear in my email I'm confused, is this link the pixel tracker that Zoho uses to track opens/clicks/etc?