$ZEN has brought significant returns to its holders in just a week, starting from around $5 at the bottom. In the past 24 hours, it exhibited a typical 'U'-shaped trend, with the price dropping from $30.14 to a daily low of $29.34 before quickly rebounding, reaching a high of $33.85, and ultimately closing at $33.55, marking an increase of 10.53%.
The significance of this rebound may not be limited to short-term price correction. From a fundamental perspective, the transformation logic of $Zen is worth exploring deeply. Once a privacy coin project, $ZEN is now developing towards a ZK modular public chain, a field that is widely regarded as the core track of the next stage of crypto infrastructure in 2024.
Currently, $ZEN has a market cap of only about $600 million, indicating a significant valuation gap. If its ecosystem and technology development can proceed smoothly, the future growth potential should not be overlooked. From a technical standpoint, such a trend is often the result of strong market buying pressure, especially when there is clear bottom support.
On the other hand, Zen's share in the Grayscale Trust is extremely small. It's worth noting that if we compare it to Optimism (OP) with a market cap of $3.5 billion, even a conservative estimate suggests that Zen's market cap could still have at least 5-6 times growth potential, corresponding to a target price above $150. For investors in the crypto space looking for small market cap potential projects, Zen is worth further research and attention.