True, but this can change very rapidly - hence the enormous upside potential. The next demand shock should come by q2, and this time they may heat up a lot faster than before: There is a lot of fiat swishing around out there, and it is going to be searching for a new home soon.

Each of the big leaps in ZEN has been due to some HNW individual deciding to hedge systemic tail risks by investing a small part of their wealth in ZEN. The number of persons seeking such a hedge will increase substantially when the indexing bull runs out of steam and the bond bubble begins to deflate. ZEN will tend to decline as small holders draw down - but will remain persistently bid at $4 and rising as long as the economy continues to grow. Soon, howwver, when capital controls, or money supply inflation, or incipient hyperinflation (liquifying excess reserves, e.g.) threaten, the market will take more frequent leaps upward, again from tail hedgers.

ZEN remains the single technology most like hard money: non-inflationary, fungible, private - and it far outpaces the field in minimizing counterparty risks, conflicts of interest, and agency problems, such as we see in the governance of ETH, BCH, DASH, and even, now, in BTC itself. While punters will always chase the speculative momentum of the day wherever it is found, the smart money, the slow money, the big money is much more concerned about risk management than speculation. ZEN provides a unique value proposition in this area: Money which cannot be seen, cannot be stolen.

The long-term upside to being the natural inheritor of the crown of global digital cash is orders of magnitude beyond the scale of any "tarpit-complete" "ponzi-node" or "developer's tax-donkey" snake oil fad. Nothing about this story has changed in the past 3 years, except the nearness of its denouement. (Which I now believe to be imminent.)

Meanwhile, there is still a lot of hard technical, social, and business enterprise work which needs to be done in order to realize those potentials. My advice: Invoice in ZEN whenever you have pricing power. Mine them, even when it is temporarily unprofitable, and do not sell, unless it is to create a new Horizen user. The main reason I have a job is so that I never, ever, need to net sell ZEN, no matter what happens to my other investments.
Dont forget about not hyped organic master node zen-500 roi, important thing is low roi. DYOR