ZEN Token Sees 8% Price Drop Amid High Trading Volume and Ecosystem Developments on Binance

ZENUSDT has experienced a notable price decline over the last 24 hours, with the Binance price falling 8.34% to $10.228 from a 24h open of $11.159. This decrease is attributed to recent selling pressure following a prior period of bullish activity and a V-shape recovery, as traders took profits near resistance levels and consolidation set in, reflected by declining volume during sideways movement. Short-term net capital inflows and renewed interest from developments in the Horizen ecosystem provided upward momentum earlier, but longer-term capital outflows and profit-taking have contributed to the latest retracement.

Market activity remains robust, with trading volumes reaching significant levels (Binance 24h volume: 1.60 million ZEN, 17.11 million USDT), a circulating supply of approximately 17.72 million ZEN out of a 21 million maximum, and market capitalization estimated between $182.63 million and $207.42 million. The recent movements highlight a dynamic trading environment as market participants adjust positions in response to evolving technical and ecosystem developments.