How Does On-Chain Data Analysis Reveal Horizen (ZEN) Network Activity in 2025?

Active addresses surge 150% to 500,000 in 2025

Horizen's ecosystem has experienced remarkable growth in 2025, with active addresses soaring 150% to reach 500,000 users as of November 18, 2025. This significant milestone reflects increasing user engagement and broader adoption of the ZEN token following its successful migration to Base as an ERC20 token. The expansion represents one of the most substantial growth periods in Horizen's history since its 2017 launch.

The dramatic increase in active addresses correlates directly with Horizen's strategic pivot toward privacy-first applications within the DeFi space. This growth trajectory becomes particularly evident when examining year-over-year user metrics:

This exponential growth coincides with Horizen's ecosystem relaunch on Base as a privacy-first appchain, enabling confidential DeFi applications that maintain regulatory compliance. The platform's focus on zero-knowledge proofs and trusted execution environments has attracted both individual traders and financial institutions seeking privacy-preserving solutions without sacrificing regulatory requirements. Market data further supports this trend, with ZEN's trading volume exceeding $365 million in a single 24-hour period, demonstrating strong liquidity and investor interest in Horizen's enhanced capabilities.

Transaction volume reaches $10 billion with 50% growth in private transactions

The Horizen (ZEN) ecosystem has achieved a remarkable milestone with its transaction volume surpassing the $10 billion threshold, accompanied by a significant 50% increase in private transactions. This substantial growth demonstrates heightened market confidence and expanding adoption across both individual and institutional sectors. The surge in private transactions particularly highlights the increasing demand for confidentiality features in blockchain operations.

Market performance metrics reveal the impressive trajectory of ZEN's adoption:

The platform's migration to Base as an ERC-20 token has catalyzed this growth, enabling enhanced DeFi capabilities while maintaining strong privacy features. Financial institutions are increasingly utilizing ZEN's regulatory-compliant confidential trading infrastructure, which provides the crucial balance between privacy and regulatory oversight. Recent data from market analysts indicates that ZEN's unique approach to combining zero-knowledge proofs with regulatory compliance frameworks has positioned it as a preferred solution for institutional traders seeking confidential yet compliant transaction environments.

Whale concentration decreases as top 100 holders now control 30% of supply

In a significant shift in the Horizen (ZEN) token distribution landscape for 2025, data reveals that the top 100 holders now control approximately 30% of the total supply. This represents a notable decrease in whale concentration compared to previous patterns observed in the cryptocurrency market.

Market analysts tracking whale behavior have identified increasing activity among large Bitcoin holders, while a similar diversification trend appears to be happening with ZEN. This redistribution suggests a healthier token ecosystem with broader participation from mid-sized and retail investors.

The Exchange Whale Ratio (EWR) has risen from 0.35 to 0.55, indicating potential profit-taking or strategic repositioning by large holders. This movement of tokens from long-term holder wallets into more active circulation has decreased the illiquid supply, potentially creating more dynamic market conditions.

While smaller investors have been observed selling their positions in the broader crypto market, institutional adoption through regulated products like the Grayscale Horizen Trust has provided a counterbalance, bringing more structured capital into the ZEN ecosystem while simultaneously reducing the dominance of individual whale wallets.

On-chain fees stabilize at 0.1 ZEN per transaction

In a significant development for Horizen's ecosystem, transaction fees have now stabilized at 0.1 ZEN per transaction in 2025, providing users with predictable costs for network activities. This fee stabilization represents a strategic move as Horizen transitions to its new position on Base as an ERC20 token, completing its migration and entering a new phase of development focused on confidential DeFi applications.

The fee structure contrasts notably with the broader crypto market where on-chain fees continue to generate substantial revenue:

This stabilization coincides with Horizen's expanded exchange presence, with ZEN listing on major platforms on November 18, 2025. The fixed transaction fee structure forms part of Horizen's broader strategy to position itself as a privacy-first appchain on Base, facilitating regulatory-compliant confidential trading.

Data indicates the stabilized fee structure supports Horizen's growing ecosystem while maintaining accessibility for users. With ZEN's current market capitalization reaching approximately $294 million and a trading volume of $367 million in 24 hours, the standardized fee represents a balanced approach between ensuring network security and promoting broader adoption of Horizen's privacy-focused solutions.

FAQ

What is the zen coin?

Zen coin is a cryptocurrency of the Horizen blockchain, using Equihash Proof of Work for mining. It aims to provide privacy and scalability in the decentralized ecosystem.

Is Zen a good coin?

Zen is a promising coin with strong privacy features and scalability. Its large node network and use by miners and developers indicate potential for growth and adoption in the Web3 ecosystem.

How much is Zen Coin worth?

As of November 2025, Zen Coin (ZEN) is worth $12.10. It has increased 0.40% in the last 24 hours, with a market cap of $212.62 million.

What is the future of zen coin?

Zen coin is projected to reach $15.30 by 2030, based on current market indicators and technical analysis tools showing neutral trends.