ZEN Coin Analysis: Privacy-Focused Ecosystem with Sidechains
Priced at $12.343, Horizen (ZEN) is a privacy-oriented blockchain platform that enables businesses and developers to build public or private sidechain applications (called Zendoo) on top of its secure, decentralized mainchain. Its native token is used for node operations, governance, and transactions.
Market Outlook: ZEN's value proposition is tied to the adoption and development of its sidechain ecosystem for uses like DeFi, NFTs, and enterprise data security. Its price is influenced by platform upgrades, new sidechain launches, and broader trends in the privacy and interoperability sectors.
Price Targets (2):
· Upside Target: $16.50 – A realistic resistance level if a major sidechain application launches successfully or the privacy narrative strengthens.
· Downside Target: $9.20 – A critical support zone; a break below could indicate slowed ecosystem growth or adverse market conditions.