๐ LayerZero Price Spikes After Airdrop! ๐
#LayerZero (ZRO) saw its price rally nearly 10%, hitting $4.40 after a hugely successful airdrop. This surge pushed its valuation higher than many well-known brands like Flow, Ethena, Quant, and Ethereum Name Service.
Despite developers asking all claimants to pay 10 cents to support the ecosystemโaiming to raise $18 million for the Protocol Guildโthe token kept climbing. The rally was also fueled by major exchanges like OKX, ByBit, and HTX offering LayerZero trading.
New Listing ALERT ๐จ
๐ $ZRO/USDT @LayerZero_Labs Spot Trading is now open!
However, history suggests that the token's price might pull back soon as many airdrop recipients sell their tokens. We've seen similar patterns with other tokens like zkSync, which crashed after its airdrop as holders liquidated their positions. Typically, cryptocurrency prices rise due to hype post-airdrop but then dip in the following days. For instance, Notcoin and Sei both saw sharp rises and subsequent crashes after their airdrops.
On the bright side, most tokens tend to recover after the initial sell-off. Sei, for example, eventually bounced back to reach a record high of $1.15. Similarly, Notcoin surged to a new high of $0.030 after its initial drop.
LayerZero has become one of the biggest airdrops this year. Based in Vancouver, the platform enables applications to move data across multiple blockchains, including Ethereum, Arbitrum, Optimism, Base, and Avalanche, with plans to add more soon. Some of the dApps using LayerZero are Ethena, Stargate, Conflux, and AAVE. ๐๐
