The Rise of ZEN Coin: From Privacy Coin to Layer 0 New Star
The crypto world is truly dynamic, and ZEN Coin's journey has been quite remarkable. From being an obscure privacy coin to now being favored by Grayscale as a Layer 0 new star, the transformation of ZEN Coin is noteworthy. Today, let's discuss how ZEN Coin made its comeback and explore its potential for the future.
Grayscale's Support Makes ZEN Coin a New Favorite for Institutions
Speaking of Grayscale, it is a heavyweight in the crypto world. Institutional investors looking to enter the crypto market often rely on it. Currently, ZEN Coin is a hot asset in Grayscale's Horizen Trust. According to AICoin data, Grayscale Horizen Trust holds more than 580,000 ZEN Coins, with a market value nearing $9 million. While this number may not be significant for Grayscale, it clearly indicates that ZEN Coin is being eyed by mainstream institutions, transitioning from a niche privacy coin to a mainstream investment asset.
Privacy Phase Out, Compliance Takes Over, ZEN Coin Transitions to Layer 0
In 2023, crypto regulation has been incredibly strict, putting immense pressure on privacy coins like Monero and Zcash, which have distanced themselves. However, the Horizen team behind ZEN Coin chose a different path—abandoning its privacy features and transitioning to a Layer 0 blockchain. This move not only aligns with regulatory demands but also opens up new horizons for ZEN Coin. Now, ZEN Coin is no longer “underground” but a compliant technology pioneer. Although transitioning carries risks, ZEN Coin's market performance has been relatively stable, with major exchanges like Binance and Coinbase recognizing its liquidity.
ZEN Coin's Comeback, Remarkable Short-Term Gains
With this transformation, ZEN Coin's visibility has surged. In the past three days, its price has continuously risen, with a short-term yield of 18%. This is no coincidence; it reflects the market's response to its strategic adjustments. Technical analysis also shows that ZEN Coin has been quietly building momentum during Bitcoin's downturn and is now rebounding strongly, poised to become a star in the next bull market.
Technical Indicators Also Support, Flag Patterns, Resistance Support, MACD, RSI, and EMA align, all indicating a clear upward trend for ZEN Coin. Although a short-term pullback may occur, a stabilization at $38 presents a new buying opportunity.
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