Horizen (ZEN) Cryptocurrency Full Explanation: From Historical Prices to Future Forecasts
Overview
Horizen (ZEN) is a hard fork based on Zcash and ZClassic, designed to provide user anonymity and privacy protection. Originally known as ZenCash, Horizen was forked from Zcash on January 9, 2018, and did not conduct an initial coin offering (ICO). Its development goal is to ensure the anonymity of users on the blockchain.
The Fundamental Value of Horizen (ZEN)
Horizen is a zk-SNARKs-based blockchain platform that is technically very similar to Zcash and ZClassic:
Mining algorithm: Equihash
Consensus Protocol: Proof of Work (PoW)
Maximum circulation: 21 million ZEN
However, Horizen has adjusted the reward mechanism for miners. Miners receive 88% of the mining rewards, and the remaining 12% is used to fund new development projects and support decentralized nodes and developers.
Horizen is unique in that it focuses on the following features:
Transaction anonymity: Protect transaction privacy based on advanced Horizen technology
Decentralized network: composed of reliable nodes, protecting the privacy of all participants
Security: The security of issuance and messaging is based on network anonymity
Horizen is working with the IPFS platform to advance the development of next-generation web technology to protect users from centralized management and maintain data confidentiality.
Current Market Data
Project name: Horizen
Stock Code: ZEN
Asset Type: Token
Network Type: Blockchain
Current price: $5.96
Current Supply/Total Supply: 8,468,563 ZEN / 21,000,000 ZEN
ROI since launch: 9.54%
Release Date: 2017
Horizen (ZEN) Price History
Horizen’s price has experienced significant fluctuations:
October 26, 2017: First major price increase, reaching $24
January 2018: Price reaches an all-time high of $62.29
February 2018: Price falls back to $40
May 2018: The price rebounded to $39 and then began to fall
Mid-2019: Price recovered to $12 but then fell again
February 16, 2020: The price reaches $13.8 again
Today's price: $5.96
Technical Analysis of Horizen (ZEN)
While specific technical analysis tools are limited, here is the overall sentiment of several analysts on TradingView on ZEN:
Horizen (ZEN) Price Prediction (2020-2025)
Wallet Investor Forecast
Long-term Outlook: Not recommended as a long-term (1 year) investment, the price could drop from $11.66 to $3.37, a drop of about 71%.
Potential Rally: The price could reach $18.66 in 2021, $23.32 in 2022, $34.98 in 2023, $46.64 in 2024, and $58.30 in 2025.
Trading Beasts Prediction
2020: The price is expected to reach $8.70, with a maximum of $10.72 and a minimum of $7.29.
2021: The price is expected to drop to $7.38.
2023: The price could recover to $11.74.
Digital Coin Prediction
Long-term Outlook: Horizen is seen as a promising investment with a price forecast to reach $13.17 within 1 year, almost double the current price.
Future outlook: US$13.17 in 2021, US$14.37 in 2022, US$17.11 in 2023, US$19.48 in 2024, and US$25.28 in 2025.
Conclusion
Horizen's development team has set long-term goals, but since there are no specific time limits, future expectations remain uncertain. For short-term investors, paying attention to news, partnership agreements, technological innovations, user activities, and DAO projects may have a positive impact on the growth trend of the ZenCash cryptocurrency. Long-term investors may find Horizen's prospects more attractive.
