# Horizen (ZEN) — crypto price, market cap and strength versus Bitcoin

> Horizen trades at $3.88 with a market capitalisation of $77.7M (rank 317). Over 90 days it is -17.4% against Bitcoin and sits below its 200-day average. Privacy as a theme is +15.3% against Bitcoin over 13 weeks. Price readings run through 2026-07-31.

## Agent research brief

- What this coin is: Horizen (ZEN), a Privacy token of $77.7M at market-cap rank 317. On-chain activity is sourced from chain TVL.
- What the tape says: -17.4% versus Bitcoin over 90 days; below its 200-day average. Privacy as a theme is +15.3% against Bitcoin over 13 weeks.
- What the evidence supports: 40.9/100 inside Privacy on 55% evidence (10% of it native activity). Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
- What is missing: There is no valuation band for any coin on this site: historical market capitalisation is not held, so no PE-style range can be built. Horizen does publish total value locked.

Theme: Privacy (/mla/crypto/sector/privacy). Price 2026-07-31; market-cap snapshot 2026-07-04.

## Price, returns and risk

Horizen is -51% over one year, -37.5% over 90 days and -4% over 30 days. Annualised 30-day volatility is 45%. Its deepest fall from a high inside the last 90 days is 50%. It trades below its 200-day average, which is falling.

- Price: $3.88
- Market cap: $77.7M (rank 317)
- Returns: 7d -3.2%; 30d -4.0%; 90d -38%; 180d -45%; 1y -51%
- RS versus Bitcoin, 90d: -17%
- 30-day volatility: 45% annualised; deepest 90-day fall 50%
- 200-day average: $5.84, trading below it

## Protocol economics

Horizen publishes 1 of the six network-economics series this site tracks: total value locked. Total value locked at the latest complete quarter is $0. Network activity is evidence about the protocol, not earnings owed to the token. Readings run to the Q2 2026 quarter.

- Total value locked: latest quarter $0; change -100%; covered 11/20 quarters

## Research score

Horizen: 40.9/100 — Tape-led · on-chain proof incomplete; 7.0 + 12.5 + 10.0 + 11.4 = 40.9; evidence 55%; native evidence 10%; rank 15 of 24 rated Privacy coins
Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
This weakens if: The read weakens if 90-day RS versus BTC falls below zero with two weekly closes below the 200-DMA, or native activity contracts for two complete calendar quarters.

No valuation band exists for any coin on this site: historical market capitalisation is not held, so no company-style valuation range can be built.

## Privacy scorecard

Horizen is one of 27 Privacy coins here, 24 of which carry enough evidence to be rated and ranked. Horizen ranks 15 of those 24 on 55% evidence. The table below is the theme's own scorecard, in its own order, with this coin marked.

- 1. Zcash (ZEC): score 68.7; evidence 50%; Tape-led · on-chain proof incomplete
- 2. Zama (ZAMA): score 67.8; evidence 43%; Tape-led · on-chain proof incomplete
- 3. Anoma (XAN): score 62.6; evidence 50%; Illiquid · research only
- 4. Monero (XMR): score 62.1; evidence 50%; Tape-led · on-chain proof incomplete
- 5. MimbleWimbleCoin (MWC): score 58.6; evidence 50%; Illiquid · research only
- 6. Litecoin (LTC): score 53.5; evidence 55%; Tape-led · on-chain proof incomplete
- 7. ZEROBASE (ZBT): score 52.7; evidence 17%; Illiquid · research only
- 8. Dash (DASH): score 52; evidence 55%; Tape-led · on-chain proof incomplete
- 9. Zano (ZANO): score 51.6; evidence 50%; Illiquid · research only
- 10. Tornado Cash (TORN): score 49.8; evidence 65%; Illiquid · research only
- 11. Pirate Chain (ARRR): score 47.2; evidence 50%; Illiquid · research only
- 12. Decred (DCR): score 46.6; evidence 50%; Illiquid · research only
- 13. Mina Protocol (MINA): score 44.6; evidence 50%; Illiquid · research only
- 14. Railgun (RAIL): score 43.5; evidence 91%; Illiquid · research only
- 15. Horizen (ZEN) [this coin]: score 40.9; evidence 55%; Tape-led · on-chain proof incomplete
- 16. Arcium (ARX): score 40.2; evidence 50%; Illiquid · research only
- 17. Ergo (ERG): score 38; evidence 55%; Illiquid · research only
- 18. Verge (XVG): score 36.6; evidence 50%; Illiquid · research only
- 19. Nockchain (NOCK): score 36.1; evidence 50%; Illiquid · research only
- 20. Tezos (XTZ): score 35.9; evidence 91%; Lagging · market gate closed
- 21. Humanity (H): score 35.1; evidence 50%; Tape-led · on-chain proof incomplete
- 22. Oasis (ROSE): score 33.2; evidence 55%; Illiquid · research only
- 23. ALEO (ALEO): score 33; evidence 50%; Illiquid · research only
- 24. Midnight (NIGHT): score 32.1; evidence 50%; Illiquid · research only

## Limitations

- Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
- Market capitalisation is a dated snapshot, not a point-in-time historical supply series, so yields computed against it inherit that lag.
- No valuation band exists for any coin: historical market capitalisation is not held at all.
- Funding rates, open interest, liquidations, exchange flows, unlock schedules and developer activity are not held and are not inferred.
- The research score is relative to this coin's own theme only. It is not comparable across themes and is not an entry signal.

## FAQs

### What is Horizen (ZEN)?

Horizen is a Privacy cryptocurrency tracked here by price, market capitalisation and strength against Bitcoin, with on-chain activity from chain TVL. It is one of 27 Privacy coins on this site. Readings are as of 2026-07-31.

### What is the market cap of Horizen?

Horizen's market capitalisation is $77.7M, ranking it 317 in the top-1,000 crypto universe. That figure is a dated snapshot from 2026-07-04, refreshed separately from the daily price series, so it can lag the price shown above.

### Is Horizen beating Bitcoin?

Horizen is -17.4% against Bitcoin over 90 days, and its own theme, Privacy, is +15.3% over 13 weeks. It trades below its 200-day average as of 2026-07-31.

### Does Horizen have a P/E ratio?

No. There is no company-style P/E or PEG for a crypto token, and no valuation band is shown on this page because the data to build one honestly does not exist: historical market capitalisation is not held, only a current snapshot. Where a protocol publishes fees or revenue, this page shows the yield against that dated snapshot instead.

### What is Horizen's research score?

40.9/100 within Privacy, ranked 15 of 24 rated Privacy coins, on 55% evidence: 7.0 + 12.5 + 10.0 + 11.4 = 40.9. It is labelled “Tape-led · on-chain proof incomplete”. The score ranks research attention inside one theme, never portfolio action.

### How much Horizen history does this page show?

Five years of weekly closes where they exist, plus 20 complete calendar quarters of on-chain activity for the metrics Horizen actually publishes. Here that is total value locked.

### Does Horizen generate total value locked?

Horizen's latest quarter total value locked is $0, down 100% on the year-earlier period. Network activity is not token-holder earnings: whether it accrues to the token depends on the protocol's own burn, buyback and distribution rules.