The trending coin in the crypto market

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Horizon (ZEN) is a layer zero (L0) blockchain platform that enables a zero-knowledge blockchain network. The L0 blockchain has one of the largest node networks with a tiered node system. Operators receive 20% of the total block grant, while the network of dispersed nodes provides extensive infrastructure to operate an ecosystem of applications and sidechains.

ZEN is the native cryptocurrency of Horizen. It has a maximum supply of 21 million coins, of which just over 11 billion are in circulation as of November 2021. The coin is an ASIC-mined cryptocurrency that uses the Equihash algorithm. The key members of this L0 blockchain are Rob Viglione and Rolf Versluis.

Horizen (ZEN) Coin Price Analysis

According to data from CoinMarketCap, a crypto price tracking platform, the price of Horizen (ZEN) is trading at $8.17 with a 24-hour trading volume of $1.90 million. The coin has grown by 0.25% in the last 24 hours, with a current market capitalization of $112.37 million. In the past 24 hours, the coin made a low of $8.08 and a high of $8.21.

Source: ZEN/USD by CoinMarketCap

The all-time high the coin noted was in May 2021 when it traded at $168.15. On the other hand, the all-time low of the coin was reached in July 2017 when it dropped to the trading price of $3.09.

Horizontal architecture

According to its official website, Horizen has a tiered node network with over 45,000 active nodes. This makes the L0 platform quite secure and resilient against malicious actors and power failures, he added.

As a sidechain platform, it enables “an unlimited and fully decentralized sidechain ecosystem”. Meanwhile, sidechains provide blockchain scalability and extensibility by creating platform and application layers.

Finally, the dominance of the most traded cryptocurrency by market capitalization, Bitcoin (BTC) is currently at 45.88%, down 0.07% on the day. The global crypto market capitalization is $1.15 trillion, an increase of 0.20% from the last day.

While the total volume of the crypto market in the last 24 hours is $25.00 billion, which is a decline of 16.72%. Total decentralized finance (DeFi) volume is currently $2.11 billion, or 8.45% of the total 24-hour crypto market volume. The volume of all stablecoins is now $22.74 billion, or 90.96% of the total 24-hour crypto market volume.

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptos or stocks involves the risk of financial loss.

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