Horizen (ZEN) Coin drops 18% in a day

The cryptocurrency phenomenon started back in 2008. The market was obviously small at that point in time. Since then, the crypto market has grown. It has grown a lot in fact. At the time of writing, the global crypto market cap is at $2.76T. That’s a lot. And it all started with Bitcoin.

But Bitcoin had its own problem. Ethereum came to get solve these problems. But it created new problems to resolve. Now, every new blockchain is trying to come with a new innovation to resolve the issues currently faced by most of the other coins. Horizen, being inspired Bitcoin, has kept the basic blockchain functionality, it introduces a variety of self-proclaimed novel features such as private payments, decentralized governance, robust network of nodes that are secure.

Horizon is built on the blockchain of Bitcoin – it is a hard fork on the Zcash source code which is based on Bitcoin. This means that it retains all the problems that are native to the Bitcoin blockchain. These are the scalability problem, the power problem, and any slight modification that requires a tenuous process of agreement among community participants which makes the introduction of new features very difficult.

Horizon attempts to resolve these problems through the sidechain method. The sidechain method helps by developing a parallel program with a variety of features and properties, while the main blockchain remains untouched. Although the coin transfer mechanism (2-way peg or 2WP) is controversial.

Price Movement Horizen (ZEN)

At the time of writing this article, ZEN, the utility token of Horizen, has a value of $96.04 with a trading volume of $148,757,726 which is an 18.96% decrease over the past 24 hours. The value of most of the coins is decreasing. The value of Horizen was above $100 just a few days ago. Just today, the coin had a high of $112.33.As of this time, the max supply of the ZEN coin is 21,000,000 out of which 11,729,831 are in total supply. This means that only 56% of the total coins are in circulation.

The coin also seems to have a good future. Digital Coin Price expects a value of $140.39 by the end of the year and positive growth throughout the next five years. In 2025, it is expected to be around $277.79. Wallet Investor is more liberal with its predictions which expects a value of $163.11 by the end of the year and $463.089 within 5 years.