Overview
Layer Zero (ZRO) has captured significant attention in the crypto market, surging over the past four days and emerging as the top gainer on Binance. This article delves into the latest trading data, market metrics, and technical analysis of ZRO, providing insights into its impressive performance.
Market Data and Trading Metrics
As of the latest data, Layer Zero exhibits robust growth indicators:
Market Cap: ZRO's market cap stands at $418,227,563, reflecting a notable increase of 9.55%.
Volume (24h): Trading volume in the last 24 hours reached $487,135,786, marking a 10.01% surge.
Volume/Market Cap (24h): The ratio of 117.58% underscores the high trading activity relative to its market cap.
Circulating Supply: 110,000,000 ZRO, representing 11% of its total and maximum supply of 1,000,000,000 ZRO.
Fully Diluted Market Cap: Valued at $3,802,068,750, indicating the potential market cap if all tokens were in circulation.
Source: CoinMarketCap
Money Flow Analysis
The money flow analysis for ZRO over the past day reveals significant buying pressure:
Large Orders: $5,569,823.92 in buys versus $4,871,778.24 in sells.
Medium Orders: $12,079,215.02 in buys against $12,336,745.54 in sells.
Small Orders: $16,267,868.42 in buys compared to $14,874,411.02 in sells.
Net Inflow: A positive net inflow of $1,833,972.76, indicating more buying than selling activity.
Source: Binance Trading DATA
In the past 24 hours, large inflows amounted to 231,046.99 ZRO, with a five-day cumulative inflow of 670,709.08 ZRO. This consistent buying trend supports the bullish momentum.
Technical Analysis
The 1-day TradingView chart highlights ZRO's upward trajectory:
Current Price: $3.812, with a daily gain of 0.79%.
Price Range: The coin traded between $3.734 and $3.885, demonstrating a steady rise.
Relative Strength Index (RSI): The RSI value of approximately 57.89 suggests a neutral to slightly bullish sentiment, indicating neither overbought nor oversold conditions.
Volume: The trading volume, as reflected by the SMA (9), stands at 5.789 million, indicating healthy market participation.
Source: Trading View
Conclusion
Layer Zero (ZRO) has demonstrated remarkable performance over the last four days, positioning itself as the top gainer on the Binance market. With strong market metrics, positive money flow, and bullish technical indicators, ZRO shows potential for continued growth. Investors and traders should closely monitor this coin, as its recent surge might indicate a sustained upward trend or potential profit-taking opportunities.
Stay tuned for more updates as we continue to track Zero Coin's performance in the dynamic crypto market.
I would advise a cautious approach when investing in Layer Zero. Always do your own research and consider the risks involved before making any investment decisions.