ZEN (Horizen) up 6.21% in the last 24 hours

Gate News Bot Message, November 7th, according to CoinMarketCap data, as of press time, ZEN (Horizen) is priced at $19.76, up 6.21% in the past 24 hours, with a high of $24.81 and a low of $14.19. The 24-hour trading volume reached $384 million. The current market capitalization is approximately $347 million, an increase of $20.3 million from yesterday. Currently, ZEN ranks 130th in cryptocurrency market cap.

Horizen is an EVM-compatible blockchain platform focused on providing confidential, compliant trading and secure on-chain activities for individual traders and financial institutions. ZEN is the native token of Horizen, now listed on Base, aiming to support confidential DeFi, governance, and long-term ecosystem growth. ZEN is one of the earliest fair-launched zero-knowledge proof tokens, with no ICO or pre-mined supply, and a total supply similar to Bitcoin’s fixed 21 million. ZEN is supported by major centralized and decentralized exchanges such as CEX, Binance, Aerodrome, and Uniswap. Institutional investors can access ZEN through Grayscale Horizen Trust.

Recent important news about ZEN:

1️⃣ Price volatility is intense, showing significant fluctuations in the short term
ZEN’s price has experienced notable swings in recent days. On November 3rd, ZEN dropped sharply by 18.14%, falling from an intraday high of $21.04 to $16.93. However, as of November 7th, the price has rebounded to $19.76, with a 6.21% increase over 24 hours, demonstrating strong price resilience and rebound momentum.

2️⃣ Trading volume remains high, market attention is increasing
Despite the price fluctuations, ZEN’s 24-hour trading volume remains elevated. On November 3rd, it was $290 million; on November 6th, it increased to $354 million, and the latest data shows $384 million. The sustained growth in trading volume reflects rising market interest in ZEN.

3️⃣ Demand changes for privacy coins influence ZEN’s performance
As a major privacy coin, ZEN’s price movements may reflect shifts in market demand for privacy protection technologies. ZEN experienced over 50% gains earlier in November, followed by corrections and rebounds possibly related to overall crypto market sentiment. Its privacy features remain a key long-term value proposition.

From a technical perspective, ZEN’s price currently fluctuates within the range of $11.15 to $24.81, indicating strong price elasticity. Fundamentally, ZEN’s status as an early fair-launched zero-knowledge proof token with a limited supply model similar to Bitcoin provides a solid foundation for long-term development. However, market participants should closely monitor Horizen’s progress in DeFi and privacy computing applications to assess future potential.

This message is not investment advice; please be aware of market volatility risks.