ZKP sounds futuristic — zero-knowledge proofs, private AI compute, fancy hardware — but markets don’t reward ideas, they reward execution. Right now, ZKP shows classic early-stage red flags: unclear real demand, massive token supply, and economics tied to hardware rewards that depend on token price staying high. That’s a fragile loop. Team transparency remains limited, competition in the ZK space is brutal, and adoption is still more promise than proof. In bearish conditions, narratives collapse faster than charts. Until ZKP shows strong liquidity, real users, and sustainable demand, downside risk dominates. This isn’t fear — it’s probability management