Horizen price spiked more than 60% in 24 hours as the cryptocurrency market looked to recover from a massive dump that saw top altcoins crash to key support levels.

On Dec. 20, as Bitcoin (BTC) traded to above $97k and Ethereum (ETH) bulls pushed above $3,400, the price of Horizen (ZEN) surged to highs of $26.34. The cryptocurrency, which rallied sharply following a recent Grayscale Investments announcement, reached a multi-year high and ranked among the top gainers in the 500 largest cryptocurrencies by market cap.

ZEN traded at lows of $14.55 on Dec. 19. However, despite the broader crypto crash and the staggering $1.4 billion liquidations, the altcoin’s price hovered above $26 in early trading during the U.S. trading session.

According to crypto.news price data, Horizen recorded a 24-hour trading volume of over $397 million, with its market cap exceeding $407 million. These metrics reflected increases of 294% and 62%, respectively, in the past 24 hours. While ZEN has surged nearly 200% over the past month, its current levels are still more than 84% below the all-time high of $168 reached in May 2021.

If the broader crypto market continues to rebound, ZEN bulls may aim for March 2022 highs near $50.

The positive momentum has benefited from Grayscale opening of the Grayscale ZEN Trust to qualified investors. Prices of the altcoin rose as the digital asset manager unveiled the fund to offer exposure to Horizen for qualified investors.

Earlier this month, Horizen’s native token underwent its final halving, which came as the project geared for a key change in its tokenomics. ZEN will not see any further halvings as the new network mechanism enables a declining emission rate.

That’s because Horizen, is shifting from the proof of work mining model that mirrored Bitcoin’s halving cycle to a new proof of stake mechanism in 2025. Horizen’s last halving occurred on Dec. 12, 2024.

New tokenomics for Horizen will come into effect in the first half of 2025.

Binance, the largest crypto exchange in the world by volume, is launching a new wallet feature aimed at shining a spotlight on nascent crypto projects.

According to a new Binance announcement, Binance Alpha is “a new platform within the Binance Wallet that shines a spotlight on early-stage crypto projects with the potential to grow within the Web3 ecosystem.”

The press release says the platform is committed to enhancing transparency in Binance’s token listing process by prioritizing projects that showcase strong community engagement, substantial traction, and alignment with key crypto trends.

Binance Alpha is part of Binance’s broader effort to promote innovation and expand the Web3 ecosystem by connecting users with promising blockchain projects at an early stage, per the announcement.

Binance says the new system includes the following features:

“Spotlight on Innovation: Explore tokens gaining traction in Web3, providing a deeper understanding of projects that matter in the evolving crypto landscape.

Quick Access: Seamlessly purchase tokens through the Quick Buy feature directly from the Binance Wallet. It optimizes the existing Swap functionality, resulting in a higher successful transaction rate and better prices compared to other DEXs or trading bots…

Educational Insight: Learn about emerging projects, their use cases, and the narratives driving their popularity within the blockchain ecosystem.

Expert Curation: Featured tokens are selected using Binance’s advanced insights and observation list, ensuring they align with market trends and community interests. While there is no guarantee, some tokens may be considered for listings on Binance Exchange in the future.”

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Three coins have risen to the top of the leaderboard: The Dogeson, a playful nod to Elon Musk, his son and Dogecoin; Shiro Neko, a cat-themed token tied to gaming and NFTs; and Orbit, a space-inspired coin.

These tokens topped the gainers’ charts on Saturday night. Here’s a closer look at each.

Dogeson

The Dogeson (DOGESON), a Doge-inspired coin named after an edited photo Elon Musk posted of himself and his son, X Æ A-12, is up more than 90% at last check Saturday.

With a market cap reaching $146.6 million, the token is built on the Ethereum blockchain and has garnered attention for its narrative of a “space-bound Doge” — meshing humor with a decentralized finance (DeFi) theme​.

Details about The Dogeson’s founding team or developers were not immediately clear.

Shiro Neko

Shiro Neko (SHIRO) is a new cryptocurrency project that blends blockchain technology with play-to-earn (P2E) gaming.

Its ecosystem is built around a native token that can be used for in-game purchases, staking, and governance.

It’s up over 83% at last check, with a market cap of about $441 million.

The project emphasizes a community-driven approach, immersive gaming experiences, and collectible in-game assets, including NFTs. It aims to attract both gamers and crypto enthusiasts through competitive challenges and real-world rewards​

Shiro Neko is also building on Shibarium, the Layer 2 blockchain for the Shiba Inu ecosystem, further anchoring itself in a popular crypto community. Additionally, the project is venturing into entertainment by launching an animated series featuring “Shiro” the cat.

The token recently had its Initial Exchange Offering (IEO) on Gate.io, with 88 billion tokens available for sale, representing 0.01% of its total supply of 1 quadrillion tokens.

This reflects a focus on early adoption and community-building in the crypto-gaming landscape​.

Orbit

Orbit (ORBIT) was up 77.6% at last check Saturday, with a market cap of roughly $44 million.

Built on the Blast Chain, the native utility token of the Orbit Protocol serves multiple purposes including facilitating governance, incentivizing participants, and enabling staking for rewards.

The protocol also boasts a Total Value Locked (TVL) of over $6.4 million and a fixed total supply of 100 million.

As of now, ORBIT’s market performance shows significant price fluctuations, with a 24-hour range of $0.02543 and $0.06379.