ZEN (Horizen) fell 0.18% in the last 24 hours.

Gate News Bot news, on November 6, according to CoinMarketCap data, ZEN (Horizen) is currently priced at $19.05, with a fall of 0.18% in the last 24 hours, reaching a high of $24.81 and a low of $11.15. The 24-hour volume has reached $354 million. The current market capitalization is approximately $335 million, a decrease of $604,200 compared to yesterday.

Horizen is an EVM-compatible blockchain focused on providing confidential, compliant trading and secure on-chain activities for individual traders and financial institutions. ZEN is the native token of Horizen, which is now live on the Base network, aimed at supporting confidential DeFi, governance, and long-term ecosystem growth. ZEN is one of the earliest fairly issued zero-knowledge proof tokens, with no ICO or pre-mined supply. The total supply of ZEN is similar to Bitcoin's 21 million cap and is supported by major centralized and decentralized exchanges, including certain CEXs and Uniswap.

Important recent news about ZEN:

1️⃣ Market volatility is severe, ZEN price has undergone significant adjustments ZEN has experienced significant price fluctuations in the past few days. On November 3rd, the price of ZEN saw a substantial fall of 18.14%, dropping from an intraday high of 21.04 USD to 16.93 USD. However, as of November 6th, the price of ZEN has rebounded to 19.05 USD, with a 24-hour fall narrowing to 0.18%, indicating a certain level of price resilience.

2️⃣ Volume surge reflects increased market attention Despite the price pullback, ZEN's 24-hour volume remains at a high level. On November 3rd, the volume reached $290 million, while on November 6th, it further increased to $354 million, indicating that the market's trading interest in ZEN continues to rise.

3️⃣ Changes in Demand for Privacy Coins Affect ZEN Performance As one of the major privacy coins, the price fluctuations of ZEN may reflect changes in market demand for privacy protection technologies. At the beginning of November, ZEN experienced an increase of over 50%, and the subsequent correction may be related to changes in overall cryptocurrency market sentiment, but its privacy features still remain one of the long-term value propositions.

From a technical perspective, the ZEN price has stabilized after significant fluctuations, with the current trading range between the recent low of $11.15 and the high of $24.81. On the fundamental side, ZEN, as an early fairly issued zero-knowledge proof token, coupled with a limited supply model similar to Bitcoin, provides a foundation for its long-term development. However, market participants still need to closely monitor the actual application progress of the Horizen project in the DeFi and privacy computing sectors to assess its future potential.

This message does not constitute investment advice; investors should be aware of market volatility risks.