Horizen ZEN
Horizen (ZEN) was trading at $5.42, ranked #270 by market cap at $99.27M, with 24h volume of $10.29M.
Data snapshot: 2026-09-02 12:15 UTC.
Horizen, formerly ZenCash, began as a privacy coin with shielded transactions and grew into a platform for launching application-specific sidechains, each able to set its own rules while settling to the main chain. It removed the privacy shielded pool from its main chain in 2023 to keep exchange listings, an explicit trade of its founding feature for accessibility. Horizen began as a privacy coin with shielded transactions and has since redirected towards being a platform for application-specific sidechains, letting projects deploy their own chains with the privacy and scaling properties they need. That pivot from currency to infrastructure is the main thing to know about it, and it means the asset's investment case now rests on sidechain adoption rather than on privacy demand. On this map ZEN sits in the privacy group by origin, though its current direction sits closer to infrastructure.
What did Horizen start as?
A privacy coin with shielded transactions, from the same technical lineage as other zero-knowledge privacy chains.
What is it now?
A platform for application-specific sidechains, letting projects deploy their own chains with chosen privacy and scaling properties.
Why does the pivot matter?
Its investment case now depends on sidechain adoption rather than on demand for private payments. Those are different bets with different evidence.
What is ZEN used for?
Transactions on the main chain and within the sidechain platform's economics.
Market cap decides how big a bubble is drawn, so rank is what places ZEN on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #15 | Zcash (ZEC) | $8.67B |
| #17 | Monero (XMR) | $6.59B |
| #100 | Dash (DASH) | $534.63M |
| #242 | Zama (ZAMA) | $109.77M |
| #270 | Horizen (ZEN) | $99.27M |
