While widespread sales and bearish sentiments dominate the overall narrative, several altcoins are defying the odds, gaining momentum due to fundamental indicators, upcoming updates, and increasing community support.
These digital assets position themselves as potential candidates for significant market capitalization growth as signs of market stabilization emerge.
Horizen (ZEN)
Horizen is gaining traction as it positions itself as a potential contender for reaching a market capitalization of $1 billion by 2025. The price of ZEN has surged by 157% over the past week, with trading volume exceeding $320 million within 24 hours.
The increase followed Grayscale's filing of a Form 8-K with the SEC for its Horizen Trust fund. The fund conducted a private placement of 3.56 million shares backed by 304,034 ZEN tokens valued at $4.71 million. This indicates a growing interest from institutional investors in this cryptocurrency.