Many people are familiar with ZRO, which stands for LayerZero. It is a cross-chain protocol designed to enhance blockchain interoperability and user engagement. ZRO plays a vital role in promoting fast and secure interactions between different blockchains. The token was listed on the OKX exchange on June 19 and on Binance on June 20. After the first day of trading, the highest price reached $4.89, and then the price slightly adjusted and stabilized at around $3.
1. ZRO’s recent performance
The coin has experienced significant gains recently, managing to shake off its initial doldrums. It rose 23.44% in just one week, and it rose sharply by 246.5% in the past month. Valuations also soared 50%. The 10-day price average is $3.47 and the RSI is near 67, indicating strong upward momentum.
From the technical chart, the coin has formed a round bottom pattern, and the neckline is exactly at $3. At the same time, a morning star pattern has appeared, indicating that a bull market may come.
The daily chart shows that ZRO has formed the fourth positive bullish candle, showing strong bullish potential. In addition, the MACD indicator and the signal line both show a positive flow trend, reflecting the continuous surge in market demand. With the reversal of the trend and the development of a breakthrough rebound, the price of ZRO is expected to climb further. If the bulls break through the resistance level of $4.24, the next target is $5.32, which may rise by nearly 40%.
Why has this been the case recently?
1. ZRO surged 60% in the past 3 days due to GSR activity
On June 28, market makers withdrew about $7.6 million worth of $ZRO from OKX, and the activity has not stopped since then. Four hours ago, 880,000 ZRO worth $3.35 million were transferred out from OKX; GSR received 11 million market making tokens on June 20, the largest number among the six market makers, and currently still holds 9.53 million ZRO with a total value of $36.21 million.
In addition, GSR Markets withdrew 5 million ZRO (US$13.9 million) from Binance, which is now the second largest position in the GSR portfolio.
Ps: GSR Markets is known as the "official market maker of Binance", and its recent market-making participation in the Launchpool project is indeed quite high.
2. ZRO trading volume has climbed to the top 4.
It is worth noting that $1.9 billion of trading volume comes from perpetual trading. Spot 24 hour trading volume is only $110 million, accounting for 1/4 of the market cap. The sentiment around $ZRO is similar to the $7 APT on January 23rd or the $5.6 TIA on November 23rd.
3. The layerzero airdrop was met with a lot of criticism, and those who should have left have left. The car is light and easy to pull.
The LayerZero airdrop eligibility query link was opened on the morning of June 20th. This link allows users to check if they are eligible for the LayerZero airdrop, which is an opportunity for early adopters and supporters to get tokens for free. But unexpectedly, this claim is not free: users must donate $0.10 in $USDC, $USDT, or native ether for each $ZRO to claim $ZRO tokens. Although players are not buying it, there is a new trend after the airdrop craze, and the project party and the Mao party are working together.
4. At 22:00 today (ET 8), Binance launched WIF/BRL, ZK/USDC, and ZRO/USDC spot trading pairs.
5. Changed the circulation amount
The original circulation was 250 million, with a circulation market value of more than 800 million. Now it is 110 million, with a circulation market value of more than 300 million. For the same project, people dare not buy more than 800 million, but the circulation market value is more than 300 million. Does that mean more people dare to buy? In fact, the initial unlocked coins were 250 million, but some of them were unlocked but not circulated. Maybe the project owner also felt that the price of the coin was not good, so he changed the circulation.
Second, several reasons for being optimistic about ZRO
It supports running more than 80 chains, and more than 50,000 DApps are active on its platform.
LayerZero is able to support decentralized applications (DApps) across multiple blockchain platforms, whether they use EVM (Ethereum Virtual Machine) or non-EVM systems. This feature makes it the world's first platform to support multi-channel applications.
Collaboration with Solana (SOL).
Occupying 80% of the cross-chain market, it has significant advantages over other platforms such as WAX.
Recently partnered with JPMorgan Chase's Onyx division.
Cooperated with Conflux (CFX) to launch SIM cards (developed jointly by Conflux and telecommunications companies).
The company recently completed its Series B financing, and the financing price remained stable.
If no shares are unlocked within one year, the next unlock will be in June 2025, and the airdrop will be limited.
3. How to evaluate the ZRO project?
The LayerZero (ZRO) project is not only technologically groundbreaking, but its innovations are also extraordinary. Its architecture is like a time machine, pushing DeFi transaction speed to a whole new level. Imagine no longer having to wait half a day for transaction confirmation, but being able to complete it in seconds. This is indeed a real improvement.
In terms of market performance, ZRO has shown extraordinary potential, far beyond the reach of ordinary projects. Its price forecast ranges from a few dollars currently to as much as ten dollars in the future, indicating that this bull market will bring more opportunities for investors.
In addition, LayerZero has also spawned a series of applications and projects built on its protocol, such as Stargate, etc. These projects demonstrate LayerZero's ability and potential in facilitating cross-chain liquidity transfer, further consolidating its influence and value in the blockchain community.
Overall, LayerZero is not only a technological innovator, but also supported by a series of top investors such as Sequoia Capital, Binance Labs, and Andreessen Horowitz. These investments provide LayerZero with strong financial support, which will help further expand the influence of its technology and ecosystem in the future.
ZRO Airdrop Collection Tutorial
Step 1: Visit the Airdrop page
First visit the LayerZero official airdrop page. Make sure you are using a secure browser to avoid any potential security issues. 【LayerZero】
Step 2: Connect your wallet
Next, connect your active crypto wallet to the LayerZero airdrop page. Look for the “Connect Wallet” option, usually found on the homepage. A list of compatible wallets will appear. Select your preferred wallet and make sure it is active before continuing.
Step 3: Grant permissions
When connecting your wallet, grant the necessary permissions to the website. Remember, legitimate websites will never ask for your private keys. Keeping these private is essential for your safety.
Step 4: Receive the airdrop
Once your wallet is connected, navigate to the “Claim Airdrop” section. Follow the on-screen instructions to complete the process. You may need to verify some information or perform some simple tasks. Once you complete these steps, you will have successfully claimed your LayerZero airdrop!
