Solana-to-Bitcoin cross-chain bridge Zeus Network’s native token ZEUS experienced a notable price surge, increasing by 19% in a single day to $0.2931.
At the time of writing, the ZEUS was still up 11.6% in the last 24 hours, trading at $0.2705 per data from crypto.news. In the same time period, the crypto asset’s trading volume hovered around $15.5 million. The cryptocurrency has also jumped 59% over the past week.
ZEUS price chart | Source: TradingView
Moreover, ZEUS’s market cap had also surged to $45.4 million. However, the token’s price is still down 75% from its all-time high of $1.11 reached on April 8.
The surge in ZEUS followed an announcement from Zeus Network on July 15 about upcoming upgrades, which are expected to drive the transformative public testing phase. These upgrades include enhancing the APOLLO Testnet and developing ZeusScan and Muses Wallet to ensure a smooth Mainnet Beta experience.
Muses Upgrade: Technical Update #6The upcoming upgrades for Zeus Network are set to drive the transformative public testing phase. We are enhancing the APOLLO Testnet and developing ZeusScan and Muses Wallet to ensure a seamless Mainnet Beta experience.Learn more:… pic.twitter.com/S5zmPJ8Kbg
— Zeus Network 🟧⛈️🟣 (MUSES) (@ZeusNetworkHQ) July 15, 2024
ZeusScan will offer real-time monitoring and management of ZPL assets on Solana, providing visibility, security, and specialized insights for asset tracking.
Muses Wallet, launching as a multi-chain wallet extension during the public testing phase, will manage ZPL assets on Solana and other blockchains.
ZPL is a set of Solana Virtual Machine (SVM) programs that enables developers to integrate native Solana support into decentralized applications and facilitate transactions across multiple blockchains.
Similar to Jupiter’s JUP token, ZEUS tokens are utilized within the Zeus Network for various functions. The network, which used Jupiter’s launchpad for its token launch, enhances security as token holders can use ZEUS to bolster protective measures for transactions and interactions.
ZEUS tokens also facilitate access to services, including transaction fee payments, smart contract operations, and special feature access.
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In terms of governance, ZEUS token holders can vote on crucial platform decisions, such as protocol upgrades and development directions, involving the community in the network’s management.
The Zeus Network incentivizes contributions that support network growth and functionality by offering ZEUS tokens as rewards. These incentives include liquidity provision, token staking, and participation in community initiatives, encouraging active engagement within the ecosystem.
OKX has listed the ZEUS token for spot trading, enabling ZEUS/USDT transactions. This integration aims to leverage Solana’s scalability alongside Bitcoin’s security, enhancing the potential for decentralized applications and secure financial services.
Zeus Network is supported by notable figures such as Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali. On April 8, the protocol successfully raised $8 million in funding, achieving a valuation of $100 million.
The funding supported the development of a cross-chain infrastructure, aiming to bridge Solana with Bitcoin (BTC) and Litecoin (LTC), marking a major step forward in blockchain interoperability.
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