ZEN (Horizen) has fallen 18.14% in the last 24 hours.

Gate News Bot message, November 03, according to CoinMarketCap data, as of the time of writing, ZEN (Horizen) is currently priced at $16.93, having fallen by 18.14% in the last 24 hours, with a high of $21.04 and a low of $11.15. The 24-hour volume reached $290 million. The current market capitalization is approximately $297 million, a decrease of about $65.8967 million 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 Horizen's native token, which has now launched on the Base network, designed for confidential DeFi, governance, and long-term ecosystem growth. ZEN is one of the earliest fair-launch zero-knowledge proof tokens, with no ICO or pre-mined supply, and a total supply cap similar to Bitcoin's 21 million. The token is supported by major centralized and decentralized exchanges, including certain CEX and Uniswap.

Important news about ZEN recently:

1️⃣ Horizen launches application chain on Base network The Horizen project announced the launch of its application chain on the Base network, marking an important expansion of the Horizen ecosystem. Base is an Ethereum Layer 2 scaling solution, and this move will bring more scalability and interoperability to Horizen, with the potential to attract more developers and users into the Horizen ecosystem.

2️⃣ Rising Demand for Privacy Coins ZEN, as one of the major privacy coins, saw a significant rise of over 50% in early November. This reflects a renewed interest in privacy protection technologies in the market, which may be related to changes in the global regulatory environment and an increase in user privacy awareness.

3️⃣ Technical and Fundamental Analysis Despite the recent short-term pullback, the long-term development prospects of ZEN remain a focus. As an early fairly issued zero-knowledge proof token, combined with a limited supply model akin to Bitcoin, it supports its value storage characteristics. However, the market still needs to pay attention to the project's actual application progress in the DeFi and privacy computing fields.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.